[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"term-betting-arbitrage-en":3,"related-arbitrage-en":50,"mdc--ix6qv-key":70},{"id":4,"slug":5,"status":6,"section":7,"category":8,"difficulty":9,"aliases":10,"related_terms":16,"related_calculators":22,"term":26,"definition":27,"content":28,"example":29,"faq":30,"availableLocales":43},"bef69933-ec55-4b51-8b8b-00085a4deb97","arbitrage","published","betting","strategies","advanced",[11,12,13,14,15],"arb","sure bet","miracle bet","surebet","arbing",[17,18,19,20,21],"odds","margin","value-bet","implied-probability","bookmaker",[23,24,25],"\u002Fbetting\u002Farbitrage-calculator","\u002Fbetting\u002Fsure-bet-scanner","\u002Fbetting\u002Fodds-converter","Arbitrage","Arbitrage betting is a risk-free strategy where you place bets on all possible outcomes of an event across different bookmakers, exploiting odds discrepancies to guarantee profit regardless of the result. This mathematical approach eliminates gambling risk entirely.","# Arbitrage Betting\n\n**Arbitrage betting** (also known as arbing or sure betting) is a risk-free betting strategy where you place bets on all possible outcomes of an event across different bookmakers. By exploiting differences in odds between bookmakers, you guarantee a profit regardless of which outcome wins. This mathematical approach eliminates gambling risk entirely, making it more similar to trading than traditional betting.\n\n## Table of Contents\n\n- [How Arbitrage Works](#how-arbitrage-works)\n- [The Mathematics of Arbitrage](#mathematics)\n- [Step-by-Step Calculation](#calculation)\n- [Arbitrage vs Value Betting](#comparison)\n- [Risks and Limitations](#risks)\n- [Arbitrage Software and Automation](#automation)\n\n## How Arbitrage Works {#how-arbitrage-works}\n\nThink of arbitrage like buying a product in one store for $90 and immediately selling it in another store for $100. You're exploiting a price difference to guarantee a $10 profit with zero risk.\n\nIn betting terms, different bookmakers often disagree on the probability of outcomes. Bookmaker A might think Team X has a 45% chance of winning, while Bookmaker B thinks Team Y has only a 45% chance. These disagreements create opportunities where the combined implied probability drops below 100%, allowing you to bet on all outcomes and still profit.\n\n**Simple Example:**\n- Bookmaker A: Team X to win at odds 2.20 (45.5% implied)\n- Bookmaker B: Team Y to win at odds 2.20 (45.5% implied)\n- Combined: 45.5% + 45.5% = 91%\n\nSince 91% is less than 100%, there's a 9% arbitrage margin to exploit.\n\n## The Mathematics of Arbitrage {#mathematics}\n\n### Detecting an Arbitrage Opportunity\n\nThe fundamental formula for detecting arbitrage:\n\n```math\n\\text{Arbitrage \\%} = \\left(\\frac{1}{\\text{Odds}_A} + \\frac{1}{\\text{Odds}_B}\\right) \\times 100\n```\n\n**If the result is less than 100%, an arbitrage opportunity exists.**\n\nFor three-way markets (home\u002Fdraw\u002Faway):\n\n```math\n\\text{Arbitrage \\%} = \\left(\\frac{1}{\\text{Odds}_1} + \\frac{1}{\\text{Odds}_X} + \\frac{1}{\\text{Odds}_2}\\right) \\times 100\n```\n\n### Calculating Individual Stakes\n\nOnce you've found an arbitrage opportunity, calculate how much to bet on each outcome:\n\n```math\n\\text{Stake}_A = \\frac{\\text{Total Investment}}{\\text{Odds}_A \\times \\text{Arbitrage \\%} \u002F 100}\n```\n\n```math\n\\text{Stake}_B = \\frac{\\text{Total Investment}}{\\text{Odds}_B \\times \\text{Arbitrage \\%} \u002F 100}\n```\n\n### Calculating Guaranteed Profit\n\n```math\n\\text{Profit} = \\text{Total Investment} \\times \\left(\\frac{100}{\\text{Arbitrage \\%}} - 1\\right)\n```\n\n## Step-by-Step Calculation {#calculation}\n\n### Example: Tennis Match Arbitrage\n\n**Match:** Djokovic vs Alcaraz\n\n| Bookmaker | Selection | Odds | Implied Probability |\n|-----------|-----------|------|---------------------|\n| Bet365 | Djokovic wins | 2.10 | 47.62% |\n| Pinnacle | Alcaraz wins | 2.05 | 48.78% |\n| **Total** | | | **96.40%** |\n\n**Step 1:** Verify arbitrage exists\n- Arbitrage % = (1\u002F2.10 + 1\u002F2.05) × 100 = 96.40%\n- Since 96.40% \u003C 100%, arbitrage exists\n\n**Step 2:** Calculate profit margin\n- Profit margin = (100\u002F96.40) - 1 = 3.73%\n\n**Step 3:** Calculate stakes for $1,000 total investment\n\n| Bookmaker | Selection | Odds | Stake | Potential Return |\n|-----------|-----------|------|-------|------------------|\n| Bet365 | Djokovic | 2.10 | $494.07 | $1,037.35 |\n| Pinnacle | Alcaraz | 2.05 | $505.93 | $1,037.16 |\n| **Total** | | | **$1,000.00** | **~$1,037** |\n\n**Guaranteed profit: $37.16 (3.73%) regardless of outcome**\n\n## Arbitrage vs Value Betting {#comparison}\n\n| Criterion | Arbitrage Betting | Value Betting |\n|-----------|-------------------|---------------|\n| Risk Level | Zero (guaranteed profit) | Medium (variance exists) |\n| Profit per Bet | 1-5% | 5-15% |\n| Required Bankroll | Large ($5,000+) | Medium ($1,000+) |\n| Complexity | High | Medium |\n| Account Limitation Risk | Very High | Medium |\n| Time Investment | High | Medium |\n| Long-term Sustainability | Low | Higher |\n| Skill Requirement | Low (mathematical) | High (odds analysis) |\n\n**When to Choose Arbitrage:**\n- You have significant capital across multiple accounts\n- You prefer zero-risk guaranteed returns\n- You can act quickly on opportunities\n\n**When to Choose Value Betting:**\n- You have limited starting capital\n- You can identify mispriced odds\n- You want higher long-term returns despite variance\n\n## Risks and Limitations {#risks}\n\n### 1. Account Limitations (Gubbing)\n\nThe biggest threat to arbitrage betting is account limitation. Bookmakers actively identify and restrict arbers through:\n\n- Betting pattern analysis\n- IP and device tracking\n- Correlation with known arbitrage services\n- Unusual stake amounts (non-round numbers)\n\n**Typical Timeline:**\n- Soft bookmakers: 1-4 weeks before limitation\n- Medium bookmakers: 1-3 months\n- Sharp bookmakers (Pinnacle, Betfair): Rarely limit\n\n### 2. Palpitation (Odds Changes)\n\n\"Palping\" occurs when odds change between placing your first and second bet, potentially eliminating or reducing your arbitrage margin. This risk increases with:\n\n- Slow bet placement\n- Pre-match to live transition\n- Breaking news (injuries, team news)\n\n### 3. Legal Status by Country\n\n| Country | Status | Notes |\n|---------|--------|-------|\n| United Kingdom | Legal | Fully permitted, no restrictions |\n| Germany | Legal | 5% betting tax applies |\n| United States | Legal* | Only in states with legal sports betting |\n| Australia | Legal | Some states have restrictions |\n| Canada | Legal | Regulated provincially |\n| Italy | Legal | Licensed bookmakers only |\n\n*Always verify current regulations in your jurisdiction*\n\n### 4. Capital Requirements\n\nArbitrage requires substantial capital because:\n- Small profit margins (1-5%) need large stakes\n- Money is locked across multiple bookmaker accounts\n- Withdrawal times vary (1-5 business days)\n\n## Arbitrage Software and Automation {#automation}\n\nModern arbitrage bettors use specialized software to find opportunities faster than manual searching allows.\n\n### Popular Arbitrage Scanners\n\n**Features to look for:**\n- Real-time odds comparison across 50+ bookmakers\n- Alert systems for high-margin opportunities\n- Stake calculators integrated with odds feeds\n- Historical data on bookmaker limitations\n\n### API-Based Solutions\n\nAdvanced arbers use direct API connections to:\n- Receive odds updates in milliseconds\n- Place bets automatically\n- Track all positions in real-time\n- Calculate exposure across accounts\n\n**Key Metrics:**\n- Speed: Opportunities last 30 seconds to 5 minutes\n- Coverage: More bookmakers = more opportunities\n- Accuracy: False positives waste time and capital\n\n### Bet Execution Speed\n\nThe hierarchy of execution speed:\n\n1. **API betting** (fastest): 100-500ms\n2. **Browser automation**: 2-5 seconds\n3. **Manual betting**: 10-30 seconds\n\nMost profitable arbitrage opportunities disappear within 1-2 minutes, making speed critical.\n\n## Related Calculators\n\nCalculate your arbitrage opportunities with these tools:\n\n- [Arbitrage Calculator](\u002Fbetting\u002Farbitrage-calculator) - Calculate exact stakes and profits\n- [Sure Bet Scanner](\u002Fbetting\u002Fsure-bet-scanner) - Find live arbitrage opportunities\n- [Odds Converter](\u002Fbetting\u002Fodds-converter) - Convert between odds formats",null,[31,34,37,40],{"answer":32,"question":33},"Yes, arbitrage betting is legal in most countries including the UK, USA (where sports betting is permitted), Germany, and Australia. It's a mathematical strategy, not fraud. However, bookmakers can limit or close accounts of suspected arbers.","Is arbitrage betting legal?",{"answer":35,"question":36},"Typical arbitrage margins range from 1-5% per bet. With a bankroll of $10,000 and 3-5 successful arbs per day at 2% average profit, you could make $600-1,000 monthly. However, account limitations significantly reduce long-term earning potential.","How much money can you make from arbitrage betting?",{"answer":38,"question":39},"Bookmakers cannot legally ban you, but they can restrict your account by limiting maximum stakes to very small amounts (often $1-5), effectively making arbitrage unprofitable. Soft bookmakers limit accounts within weeks of arbing activity.","Can bookmakers ban you for arbitrage betting?",{"answer":41,"question":42},"A practical minimum is $1,000-2,000 to cover multiple bookmaker accounts and generate meaningful returns. Since arbitrage margins are small (1-5%), you need sufficient capital across 5-10 bookmaker accounts to make worthwhile profits.","What is the minimum bankroll for arbitrage betting?",[44,45,46,47,48,49],"es","en","ru","pt","tr","de",[51,56,60,63,67],{"slug":21,"section":7,"category":52,"difficulty":53,"term":54,"definition":55},"fundamentals","beginner","Bookmaker","A bookmaker (bookie, sportsbook) is a licensed company or individual that accepts wagers on sporting events and other outcomes, setting odds that include a built-in profit margin. Bookmakers balance their books to guarantee profit regardless of outcome, using sophisticated algorithms, trader expertise, and real-time odds adjustment. The margin between true probability and offered odds is how they make money.",{"slug":57,"section":7,"category":17,"difficulty":53,"term":58,"definition":59},"decimal-odds","Decimal Odds","Decimal odds (European odds) represent the total return per unit staked, including the original stake. A decimal odd of 2.50 means a $1 bet returns $2.50 total ($1.50 profit plus $1 stake). This is the most intuitive odds format, used predominantly in Europe, Australia, and by most online bookmakers. Decimal odds are simply calculated as 1 divided by implied probability.",{"slug":20,"section":7,"category":52,"difficulty":53,"term":61,"definition":62},"Implied Probability","Implied probability is the conversion of betting odds into a percentage that represents the bookmaker's assessed likelihood of an outcome occurring. It answers the question: according to these odds, how often does this outcome need to happen for the bet to break even? Implied probability includes the bookmaker's margin (vig), so the sum of all implied probabilities in a market exceeds 100%.",{"slug":18,"section":7,"category":17,"difficulty":64,"term":65,"definition":66},"intermediate","Margin","Bookmaker margin (also called vig, vigorish, juice, or overround) is the built-in profit percentage that bookmakers add to odds, ensuring they profit regardless of the outcome. It's calculated as the sum of implied probabilities minus 100%. A typical margin of 5% means the bookmaker expects to keep $5 of every $100 wagered over time.",{"slug":19,"section":7,"category":8,"difficulty":64,"term":68,"definition":69},"Value Bet","A value bet occurs when bookmaker odds imply a lower probability than the actual chance of an outcome happening. This creates positive expected value, meaning the bet will be profitable over time. Finding value bets consistently is the core skill of professional sports bettors and the only way to achieve long-term profit.",{"data":71,"body":72},{},{"type":73,"children":74},"root",[75,84,96,102,162,168,563,568,576,594,599,605,612,617,1169,1177,1182,1869,1875,1880,2235,2577,2583,2867,2873,2879,2889,2994,3004,3017,3027,3035,3045,3162,3170,3176,3343,3351,3369,3377,3395,3401,3407,3412,3435,3443,3461,3467,3472,3490,3496,3627,3636,3642,3647,3665,3671,3676,3682,3690,3713,3719,3724,3747,3755,3773,3779,3784,3818,3823,3829,3834],{"type":76,"tag":77,"props":78,"children":80},"element","h2",{"id":79},"arbitrage-betting",[81],{"type":82,"value":83},"text","Arbitrage Betting",{"type":76,"tag":85,"props":86,"children":87},"p",{},[88,94],{"type":76,"tag":89,"props":90,"children":91},"strong",{},[92],{"type":82,"value":93},"Arbitrage betting",{"type":82,"value":95}," (also known as arbing or sure betting) is a risk-free betting strategy where you place bets on all possible outcomes of an event across different bookmakers. By exploiting differences in odds between bookmakers, you guarantee a profit regardless of which outcome wins. This mathematical approach eliminates gambling risk entirely, making it more similar to trading than traditional betting.",{"type":76,"tag":77,"props":97,"children":99},{"id":98},"table-of-contents",[100],{"type":82,"value":101},"Table of Contents",{"type":76,"tag":103,"props":104,"children":105},"ul",{},[106,117,126,135,144,153],{"type":76,"tag":107,"props":108,"children":109},"li",{},[110],{"type":76,"tag":111,"props":112,"children":114},"a",{"href":113},"#how-arbitrage-works",[115],{"type":82,"value":116},"How Arbitrage Works",{"type":76,"tag":107,"props":118,"children":119},{},[120],{"type":76,"tag":111,"props":121,"children":123},{"href":122},"#mathematics",[124],{"type":82,"value":125},"The Mathematics of Arbitrage",{"type":76,"tag":107,"props":127,"children":128},{},[129],{"type":76,"tag":111,"props":130,"children":132},{"href":131},"#calculation",[133],{"type":82,"value":134},"Step-by-Step Calculation",{"type":76,"tag":107,"props":136,"children":137},{},[138],{"type":76,"tag":111,"props":139,"children":141},{"href":140},"#comparison",[142],{"type":82,"value":143},"Arbitrage vs Value Betting",{"type":76,"tag":107,"props":145,"children":146},{},[147],{"type":76,"tag":111,"props":148,"children":150},{"href":149},"#risks",[151],{"type":82,"value":152},"Risks and Limitations",{"type":76,"tag":107,"props":154,"children":155},{},[156],{"type":76,"tag":111,"props":157,"children":159},{"href":158},"#automation",[160],{"type":82,"value":161},"Arbitrage Software and Automation",{"type":76,"tag":77,"props":163,"children":165},{"id":164},"how-arbitrage-works-how-arbitrage-works",[166],{"type":82,"value":167},"How Arbitrage Works {#how-arbitrage-works}",{"type":76,"tag":85,"props":169,"children":170},{},[171,173,561],{"type":82,"value":172},"Think of arbitrage like buying a product in one store for ",{"type":76,"tag":174,"props":175,"children":178},"span",{"className":176},[177],"katex",[179,385],{"type":76,"tag":174,"props":180,"children":183},{"className":181},[182],"katex-mathml",[184],{"type":76,"tag":185,"props":186,"children":188},"math",{"xmlns":187},"http:\u002F\u002Fwww.w3.org\u002F1998\u002FMath\u002FMathML",[189],{"type":76,"tag":190,"props":191,"children":192},"semantics",{},[193,378],{"type":76,"tag":194,"props":195,"children":196},"mrow",{},[197,203,208,213,218,223,228,232,237,241,245,249,254,258,263,268,273,277,281,285,289,293,298,302,306,310,314,318,322,327,331,336,340,345,349,353,357,361,365,370,374],{"type":76,"tag":198,"props":199,"children":200},"mn",{},[201],{"type":82,"value":202},"90",{"type":76,"tag":204,"props":205,"children":206},"mi",{},[207],{"type":82,"value":111},{"type":76,"tag":204,"props":209,"children":210},{},[211],{"type":82,"value":212},"n",{"type":76,"tag":204,"props":214,"children":215},{},[216],{"type":82,"value":217},"d",{"type":76,"tag":204,"props":219,"children":220},{},[221],{"type":82,"value":222},"i",{"type":76,"tag":204,"props":224,"children":225},{},[226],{"type":82,"value":227},"m",{"type":76,"tag":204,"props":229,"children":230},{},[231],{"type":82,"value":227},{"type":76,"tag":204,"props":233,"children":234},{},[235],{"type":82,"value":236},"e",{"type":76,"tag":204,"props":238,"children":239},{},[240],{"type":82,"value":217},{"type":76,"tag":204,"props":242,"children":243},{},[244],{"type":82,"value":222},{"type":76,"tag":204,"props":246,"children":247},{},[248],{"type":82,"value":111},{"type":76,"tag":204,"props":250,"children":251},{},[252],{"type":82,"value":253},"t",{"type":76,"tag":204,"props":255,"children":256},{},[257],{"type":82,"value":236},{"type":76,"tag":204,"props":259,"children":260},{},[261],{"type":82,"value":262},"l",{"type":76,"tag":204,"props":264,"children":265},{},[266],{"type":82,"value":267},"y",{"type":76,"tag":204,"props":269,"children":270},{},[271],{"type":82,"value":272},"s",{"type":76,"tag":204,"props":274,"children":275},{},[276],{"type":82,"value":236},{"type":76,"tag":204,"props":278,"children":279},{},[280],{"type":82,"value":262},{"type":76,"tag":204,"props":282,"children":283},{},[284],{"type":82,"value":262},{"type":76,"tag":204,"props":286,"children":287},{},[288],{"type":82,"value":222},{"type":76,"tag":204,"props":290,"children":291},{},[292],{"type":82,"value":212},{"type":76,"tag":204,"props":294,"children":295},{},[296],{"type":82,"value":297},"g",{"type":76,"tag":204,"props":299,"children":300},{},[301],{"type":82,"value":222},{"type":76,"tag":204,"props":303,"children":304},{},[305],{"type":82,"value":253},{"type":76,"tag":204,"props":307,"children":308},{},[309],{"type":82,"value":222},{"type":76,"tag":204,"props":311,"children":312},{},[313],{"type":82,"value":212},{"type":76,"tag":204,"props":315,"children":316},{},[317],{"type":82,"value":111},{"type":76,"tag":204,"props":319,"children":320},{},[321],{"type":82,"value":212},{"type":76,"tag":204,"props":323,"children":324},{},[325],{"type":82,"value":326},"o",{"type":76,"tag":204,"props":328,"children":329},{},[330],{"type":82,"value":253},{"type":76,"tag":204,"props":332,"children":333},{},[334],{"type":82,"value":335},"h",{"type":76,"tag":204,"props":337,"children":338},{},[339],{"type":82,"value":236},{"type":76,"tag":204,"props":341,"children":342},{},[343],{"type":82,"value":344},"r",{"type":76,"tag":204,"props":346,"children":347},{},[348],{"type":82,"value":272},{"type":76,"tag":204,"props":350,"children":351},{},[352],{"type":82,"value":253},{"type":76,"tag":204,"props":354,"children":355},{},[356],{"type":82,"value":326},{"type":76,"tag":204,"props":358,"children":359},{},[360],{"type":82,"value":344},{"type":76,"tag":204,"props":362,"children":363},{},[364],{"type":82,"value":236},{"type":76,"tag":204,"props":366,"children":367},{},[368],{"type":82,"value":369},"f",{"type":76,"tag":204,"props":371,"children":372},{},[373],{"type":82,"value":326},{"type":76,"tag":204,"props":375,"children":376},{},[377],{"type":82,"value":344},{"type":76,"tag":379,"props":380,"children":382},"annotation",{"encoding":381},"application\u002Fx-tex",[383],{"type":82,"value":384},"90 and immediately selling it in another store for ",{"type":76,"tag":174,"props":386,"children":390},{"className":387,"ariaHidden":389},[388],"katex-html","true",[391],{"type":76,"tag":174,"props":392,"children":395},{"className":393},[394],"base",[396,402,408,415,420,426,431,436,442,447,452,458,464,470,475,480,486,491,496,501,507,512,517,522,529,534,539,545,550,556],{"type":76,"tag":174,"props":397,"children":401},{"className":398,"style":400},[399],"strut","height:0.8889em;vertical-align:-0.1944em;",[],{"type":76,"tag":174,"props":403,"children":406},{"className":404},[405],"mord",[407],{"type":82,"value":202},{"type":76,"tag":174,"props":409,"children":412},{"className":410},[405,411],"mathnormal",[413],{"type":82,"value":414},"an",{"type":76,"tag":174,"props":416,"children":418},{"className":417},[405,411],[419],{"type":82,"value":217},{"type":76,"tag":174,"props":421,"children":423},{"className":422},[405,411],[424],{"type":82,"value":425},"imm",{"type":76,"tag":174,"props":427,"children":429},{"className":428},[405,411],[430],{"type":82,"value":236},{"type":76,"tag":174,"props":432,"children":434},{"className":433},[405,411],[435],{"type":82,"value":217},{"type":76,"tag":174,"props":437,"children":439},{"className":438},[405,411],[440],{"type":82,"value":441},"ia",{"type":76,"tag":174,"props":443,"children":445},{"className":444},[405,411],[446],{"type":82,"value":253},{"type":76,"tag":174,"props":448,"children":450},{"className":449},[405,411],[451],{"type":82,"value":236},{"type":76,"tag":174,"props":453,"children":456},{"className":454,"style":455},[405,411],"margin-right:0.0197em;",[457],{"type":82,"value":262},{"type":76,"tag":174,"props":459,"children":462},{"className":460,"style":461},[405,411],"margin-right:0.0359em;",[463],{"type":82,"value":267},{"type":76,"tag":174,"props":465,"children":467},{"className":466},[405,411],[468],{"type":82,"value":469},"se",{"type":76,"tag":174,"props":471,"children":473},{"className":472,"style":455},[405,411],[474],{"type":82,"value":262},{"type":76,"tag":174,"props":476,"children":478},{"className":477,"style":455},[405,411],[479],{"type":82,"value":262},{"type":76,"tag":174,"props":481,"children":483},{"className":482},[405,411],[484],{"type":82,"value":485},"in",{"type":76,"tag":174,"props":487,"children":489},{"className":488,"style":461},[405,411],[490],{"type":82,"value":297},{"type":76,"tag":174,"props":492,"children":494},{"className":493},[405,411],[495],{"type":82,"value":222},{"type":76,"tag":174,"props":497,"children":499},{"className":498},[405,411],[500],{"type":82,"value":253},{"type":76,"tag":174,"props":502,"children":504},{"className":503},[405,411],[505],{"type":82,"value":506},"inan",{"type":76,"tag":174,"props":508,"children":510},{"className":509},[405,411],[511],{"type":82,"value":326},{"type":76,"tag":174,"props":513,"children":515},{"className":514},[405,411],[516],{"type":82,"value":253},{"type":76,"tag":174,"props":518,"children":520},{"className":519},[405,411],[521],{"type":82,"value":335},{"type":76,"tag":174,"props":523,"children":526},{"className":524,"style":525},[405,411],"margin-right:0.0278em;",[527],{"type":82,"value":528},"er",{"type":76,"tag":174,"props":530,"children":532},{"className":531},[405,411],[533],{"type":82,"value":272},{"type":76,"tag":174,"props":535,"children":537},{"className":536},[405,411],[538],{"type":82,"value":253},{"type":76,"tag":174,"props":540,"children":542},{"className":541,"style":525},[405,411],[543],{"type":82,"value":544},"or",{"type":76,"tag":174,"props":546,"children":548},{"className":547},[405,411],[549],{"type":82,"value":236},{"type":76,"tag":174,"props":551,"children":554},{"className":552,"style":553},[405,411],"margin-right:0.1076em;",[555],{"type":82,"value":369},{"type":76,"tag":174,"props":557,"children":559},{"className":558,"style":525},[405,411],[560],{"type":82,"value":544},{"type":82,"value":562},"100. You're exploiting a price difference to guarantee a $10 profit with zero risk.",{"type":76,"tag":85,"props":564,"children":565},{},[566],{"type":82,"value":567},"In betting terms, different bookmakers often disagree on the probability of outcomes. Bookmaker A might think Team X has a 45% chance of winning, while Bookmaker B thinks Team Y has only a 45% chance. These disagreements create opportunities where the combined implied probability drops below 100%, allowing you to bet on all outcomes and still profit.",{"type":76,"tag":85,"props":569,"children":570},{},[571],{"type":76,"tag":89,"props":572,"children":573},{},[574],{"type":82,"value":575},"Simple Example:",{"type":76,"tag":103,"props":577,"children":578},{},[579,584,589],{"type":76,"tag":107,"props":580,"children":581},{},[582],{"type":82,"value":583},"Bookmaker A: Team X to win at odds 2.20 (45.5% implied)",{"type":76,"tag":107,"props":585,"children":586},{},[587],{"type":82,"value":588},"Bookmaker B: Team Y to win at odds 2.20 (45.5% implied)",{"type":76,"tag":107,"props":590,"children":591},{},[592],{"type":82,"value":593},"Combined: 45.5% + 45.5% = 91%",{"type":76,"tag":85,"props":595,"children":596},{},[597],{"type":82,"value":598},"Since 91% is less than 100%, there's a 9% arbitrage margin to exploit.",{"type":76,"tag":77,"props":600,"children":602},{"id":601},"the-mathematics-of-arbitrage-mathematics",[603],{"type":82,"value":604},"The Mathematics of Arbitrage {#mathematics}",{"type":76,"tag":606,"props":607,"children":609},"h3",{"id":608},"detecting-an-arbitrage-opportunity",[610],{"type":82,"value":611},"Detecting an Arbitrage Opportunity",{"type":76,"tag":85,"props":613,"children":614},{},[615],{"type":82,"value":616},"The fundamental formula for detecting arbitrage:",{"type":76,"tag":174,"props":618,"children":620},{"className":619},[177],[621,721],{"type":76,"tag":174,"props":622,"children":624},{"className":623},[182],[625],{"type":76,"tag":185,"props":626,"children":627},{"xmlns":187},[628],{"type":76,"tag":190,"props":629,"children":630},{},[631,716],{"type":76,"tag":194,"props":632,"children":633},{},[634,640,646,706,711],{"type":76,"tag":635,"props":636,"children":637},"mtext",{},[638],{"type":82,"value":639},"Arbitrage %",{"type":76,"tag":641,"props":642,"children":643},"mo",{},[644],{"type":82,"value":645},"=",{"type":76,"tag":194,"props":647,"children":648},{},[649,654,677,682,701],{"type":76,"tag":641,"props":650,"children":651},{"fence":389},[652],{"type":82,"value":653},"(",{"type":76,"tag":655,"props":656,"children":657},"mfrac",{},[658,663],{"type":76,"tag":198,"props":659,"children":660},{},[661],{"type":82,"value":662},"1",{"type":76,"tag":664,"props":665,"children":666},"msub",{},[667,672],{"type":76,"tag":635,"props":668,"children":669},{},[670],{"type":82,"value":671},"Odds",{"type":76,"tag":204,"props":673,"children":674},{},[675],{"type":82,"value":676},"A",{"type":76,"tag":641,"props":678,"children":679},{},[680],{"type":82,"value":681},"+",{"type":76,"tag":655,"props":683,"children":684},{},[685,689],{"type":76,"tag":198,"props":686,"children":687},{},[688],{"type":82,"value":662},{"type":76,"tag":664,"props":690,"children":691},{},[692,696],{"type":76,"tag":635,"props":693,"children":694},{},[695],{"type":82,"value":671},{"type":76,"tag":204,"props":697,"children":698},{},[699],{"type":82,"value":700},"B",{"type":76,"tag":641,"props":702,"children":703},{"fence":389},[704],{"type":82,"value":705},")",{"type":76,"tag":641,"props":707,"children":708},{},[709],{"type":82,"value":710},"×",{"type":76,"tag":198,"props":712,"children":713},{},[714],{"type":82,"value":715},"100",{"type":76,"tag":379,"props":717,"children":718},{"encoding":381},[719],{"type":82,"value":720},"\\text{Arbitrage \\%} = \\left(\\frac{1}{\\text{Odds}_A} + \\frac{1}{\\text{Odds}_B}\\right) \\times 100\n",{"type":76,"tag":174,"props":722,"children":724},{"className":723,"ariaHidden":389},[388],[725,759,1155],{"type":76,"tag":174,"props":726,"children":728},{"className":727},[394],[729,734,743,749,755],{"type":76,"tag":174,"props":730,"children":733},{"className":731,"style":732},[399],"height:0.9444em;vertical-align:-0.1944em;",[],{"type":76,"tag":174,"props":735,"children":737},{"className":736},[405,82],[738],{"type":76,"tag":174,"props":739,"children":741},{"className":740},[405],[742],{"type":82,"value":639},{"type":76,"tag":174,"props":744,"children":748},{"className":745,"style":747},[746],"mspace","margin-right:0.2778em;",[],{"type":76,"tag":174,"props":750,"children":753},{"className":751},[752],"mrel",[754],{"type":82,"value":645},{"type":76,"tag":174,"props":756,"children":758},{"className":757,"style":747},[746],[],{"type":76,"tag":174,"props":760,"children":762},{"className":761},[394],[763,768,1142,1146,1151],{"type":76,"tag":174,"props":764,"children":767},{"className":765,"style":766},[399],"height:1.8em;vertical-align:-0.65em;",[],{"type":76,"tag":174,"props":769,"children":772},{"className":770},[771],"minner",[773,787,966,971,977,981,1133],{"type":76,"tag":174,"props":774,"children":779},{"className":775,"style":778},[776,777],"mopen","delimcenter","top:0em;",[780],{"type":76,"tag":174,"props":781,"children":785},{"className":782},[783,784],"delimsizing","size2",[786],{"type":82,"value":653},{"type":76,"tag":174,"props":788,"children":790},{"className":789},[405],[791,796,961],{"type":76,"tag":174,"props":792,"children":795},{"className":793},[776,794],"nulldelimiter",[],{"type":76,"tag":174,"props":797,"children":799},{"className":798},[655],[800],{"type":76,"tag":174,"props":801,"children":805},{"className":802},[803,804],"vlist-t","vlist-t2",[806,949],{"type":76,"tag":174,"props":807,"children":810},{"className":808},[809],"vlist-r",[811,944],{"type":76,"tag":174,"props":812,"children":816},{"className":813,"style":815},[814],"vlist","height:0.8451em;",[817,909,923],{"type":76,"tag":174,"props":818,"children":820},{"style":819},"top:-2.655em;",[821,827],{"type":76,"tag":174,"props":822,"children":826},{"className":823,"style":825},[824],"pstrut","height:3em;",[],{"type":76,"tag":174,"props":828,"children":834},{"className":829},[830,831,832,833],"sizing","reset-size6","size3","mtight",[835],{"type":76,"tag":174,"props":836,"children":838},{"className":837},[405,833],[839],{"type":76,"tag":174,"props":840,"children":842},{"className":841},[405,833],[843,852],{"type":76,"tag":174,"props":844,"children":846},{"className":845},[405,82,833],[847],{"type":76,"tag":174,"props":848,"children":850},{"className":849},[405,833],[851],{"type":82,"value":671},{"type":76,"tag":174,"props":853,"children":856},{"className":854},[855],"msupsub",[857],{"type":76,"tag":174,"props":858,"children":860},{"className":859},[803,804],[861,897],{"type":76,"tag":174,"props":862,"children":864},{"className":863},[809],[865,890],{"type":76,"tag":174,"props":866,"children":869},{"className":867,"style":868},[814],"height:0.3448em;",[870],{"type":76,"tag":174,"props":871,"children":873},{"style":872},"top:-2.3567em;margin-right:0.0714em;",[874,879],{"type":76,"tag":174,"props":875,"children":878},{"className":876,"style":877},[824],"height:2.5em;",[],{"type":76,"tag":174,"props":880,"children":884},{"className":881},[830,882,883,833],"reset-size3","size1",[885],{"type":76,"tag":174,"props":886,"children":888},{"className":887},[405,411,833],[889],{"type":82,"value":676},{"type":76,"tag":174,"props":891,"children":894},{"className":892},[893],"vlist-s",[895],{"type":82,"value":896},"​",{"type":76,"tag":174,"props":898,"children":900},{"className":899},[809],[901],{"type":76,"tag":174,"props":902,"children":905},{"className":903,"style":904},[814],"height:0.1433em;",[906],{"type":76,"tag":174,"props":907,"children":908},{},[],{"type":76,"tag":174,"props":910,"children":912},{"style":911},"top:-3.23em;",[913,917],{"type":76,"tag":174,"props":914,"children":916},{"className":915,"style":825},[824],[],{"type":76,"tag":174,"props":918,"children":922},{"className":919,"style":921},[920],"frac-line","border-bottom-width:0.04em;",[],{"type":76,"tag":174,"props":924,"children":926},{"style":925},"top:-3.394em;",[927,931],{"type":76,"tag":174,"props":928,"children":930},{"className":929,"style":825},[824],[],{"type":76,"tag":174,"props":932,"children":934},{"className":933},[830,831,832,833],[935],{"type":76,"tag":174,"props":936,"children":938},{"className":937},[405,833],[939],{"type":76,"tag":174,"props":940,"children":942},{"className":941},[405,833],[943],{"type":82,"value":662},{"type":76,"tag":174,"props":945,"children":947},{"className":946},[893],[948],{"type":82,"value":896},{"type":76,"tag":174,"props":950,"children":952},{"className":951},[809],[953],{"type":76,"tag":174,"props":954,"children":957},{"className":955,"style":956},[814],"height:0.4453em;",[958],{"type":76,"tag":174,"props":959,"children":960},{},[],{"type":76,"tag":174,"props":962,"children":965},{"className":963},[964,794],"mclose",[],{"type":76,"tag":174,"props":967,"children":970},{"className":968,"style":969},[746],"margin-right:0.2222em;",[],{"type":76,"tag":174,"props":972,"children":975},{"className":973},[974],"mbin",[976],{"type":82,"value":681},{"type":76,"tag":174,"props":978,"children":980},{"className":979,"style":969},[746],[],{"type":76,"tag":174,"props":982,"children":984},{"className":983},[405],[985,989,1129],{"type":76,"tag":174,"props":986,"children":988},{"className":987},[776,794],[],{"type":76,"tag":174,"props":990,"children":992},{"className":991},[655],[993],{"type":76,"tag":174,"props":994,"children":996},{"className":995},[803,804],[997,1118],{"type":76,"tag":174,"props":998,"children":1000},{"className":999},[809],[1001,1113],{"type":76,"tag":174,"props":1002,"children":1004},{"className":1003,"style":815},[814],[1005,1082,1093],{"type":76,"tag":174,"props":1006,"children":1007},{"style":819},[1008,1012],{"type":76,"tag":174,"props":1009,"children":1011},{"className":1010,"style":825},[824],[],{"type":76,"tag":174,"props":1013,"children":1015},{"className":1014},[830,831,832,833],[1016],{"type":76,"tag":174,"props":1017,"children":1019},{"className":1018},[405,833],[1020],{"type":76,"tag":174,"props":1021,"children":1023},{"className":1022},[405,833],[1024,1033],{"type":76,"tag":174,"props":1025,"children":1027},{"className":1026},[405,82,833],[1028],{"type":76,"tag":174,"props":1029,"children":1031},{"className":1030},[405,833],[1032],{"type":82,"value":671},{"type":76,"tag":174,"props":1034,"children":1036},{"className":1035},[855],[1037],{"type":76,"tag":174,"props":1038,"children":1040},{"className":1039},[803,804],[1041,1071],{"type":76,"tag":174,"props":1042,"children":1044},{"className":1043},[809],[1045,1066],{"type":76,"tag":174,"props":1046,"children":1048},{"className":1047,"style":868},[814],[1049],{"type":76,"tag":174,"props":1050,"children":1051},{"style":872},[1052,1056],{"type":76,"tag":174,"props":1053,"children":1055},{"className":1054,"style":877},[824],[],{"type":76,"tag":174,"props":1057,"children":1059},{"className":1058},[830,882,883,833],[1060],{"type":76,"tag":174,"props":1061,"children":1064},{"className":1062,"style":1063},[405,411,833],"margin-right:0.0502em;",[1065],{"type":82,"value":700},{"type":76,"tag":174,"props":1067,"children":1069},{"className":1068},[893],[1070],{"type":82,"value":896},{"type":76,"tag":174,"props":1072,"children":1074},{"className":1073},[809],[1075],{"type":76,"tag":174,"props":1076,"children":1078},{"className":1077,"style":904},[814],[1079],{"type":76,"tag":174,"props":1080,"children":1081},{},[],{"type":76,"tag":174,"props":1083,"children":1084},{"style":911},[1085,1089],{"type":76,"tag":174,"props":1086,"children":1088},{"className":1087,"style":825},[824],[],{"type":76,"tag":174,"props":1090,"children":1092},{"className":1091,"style":921},[920],[],{"type":76,"tag":174,"props":1094,"children":1095},{"style":925},[1096,1100],{"type":76,"tag":174,"props":1097,"children":1099},{"className":1098,"style":825},[824],[],{"type":76,"tag":174,"props":1101,"children":1103},{"className":1102},[830,831,832,833],[1104],{"type":76,"tag":174,"props":1105,"children":1107},{"className":1106},[405,833],[1108],{"type":76,"tag":174,"props":1109,"children":1111},{"className":1110},[405,833],[1112],{"type":82,"value":662},{"type":76,"tag":174,"props":1114,"children":1116},{"className":1115},[893],[1117],{"type":82,"value":896},{"type":76,"tag":174,"props":1119,"children":1121},{"className":1120},[809],[1122],{"type":76,"tag":174,"props":1123,"children":1125},{"className":1124,"style":956},[814],[1126],{"type":76,"tag":174,"props":1127,"children":1128},{},[],{"type":76,"tag":174,"props":1130,"children":1132},{"className":1131},[964,794],[],{"type":76,"tag":174,"props":1134,"children":1136},{"className":1135,"style":778},[964,777],[1137],{"type":76,"tag":174,"props":1138,"children":1140},{"className":1139},[783,784],[1141],{"type":82,"value":705},{"type":76,"tag":174,"props":1143,"children":1145},{"className":1144,"style":969},[746],[],{"type":76,"tag":174,"props":1147,"children":1149},{"className":1148},[974],[1150],{"type":82,"value":710},{"type":76,"tag":174,"props":1152,"children":1154},{"className":1153,"style":969},[746],[],{"type":76,"tag":174,"props":1156,"children":1158},{"className":1157},[394],[1159,1164],{"type":76,"tag":174,"props":1160,"children":1163},{"className":1161,"style":1162},[399],"height:0.6444em;",[],{"type":76,"tag":174,"props":1165,"children":1167},{"className":1166},[405],[1168],{"type":82,"value":715},{"type":76,"tag":85,"props":1170,"children":1171},{},[1172],{"type":76,"tag":89,"props":1173,"children":1174},{},[1175],{"type":82,"value":1176},"If the result is less than 100%, an arbitrage opportunity exists.",{"type":76,"tag":85,"props":1178,"children":1179},{},[1180],{"type":82,"value":1181},"For three-way markets (home\u002Fdraw\u002Faway):",{"type":76,"tag":174,"props":1183,"children":1185},{"className":1184},[177],[1186,1295],{"type":76,"tag":174,"props":1187,"children":1189},{"className":1188},[182],[1190],{"type":76,"tag":185,"props":1191,"children":1192},{"xmlns":187},[1193],{"type":76,"tag":190,"props":1194,"children":1195},{},[1196,1290],{"type":76,"tag":194,"props":1197,"children":1198},{},[1199,1203,1207,1282,1286],{"type":76,"tag":635,"props":1200,"children":1201},{},[1202],{"type":82,"value":639},{"type":76,"tag":641,"props":1204,"children":1205},{},[1206],{"type":82,"value":645},{"type":76,"tag":194,"props":1208,"children":1209},{},[1210,1214,1232,1236,1255,1259,1278],{"type":76,"tag":641,"props":1211,"children":1212},{"fence":389},[1213],{"type":82,"value":653},{"type":76,"tag":655,"props":1215,"children":1216},{},[1217,1221],{"type":76,"tag":198,"props":1218,"children":1219},{},[1220],{"type":82,"value":662},{"type":76,"tag":664,"props":1222,"children":1223},{},[1224,1228],{"type":76,"tag":635,"props":1225,"children":1226},{},[1227],{"type":82,"value":671},{"type":76,"tag":198,"props":1229,"children":1230},{},[1231],{"type":82,"value":662},{"type":76,"tag":641,"props":1233,"children":1234},{},[1235],{"type":82,"value":681},{"type":76,"tag":655,"props":1237,"children":1238},{},[1239,1243],{"type":76,"tag":198,"props":1240,"children":1241},{},[1242],{"type":82,"value":662},{"type":76,"tag":664,"props":1244,"children":1245},{},[1246,1250],{"type":76,"tag":635,"props":1247,"children":1248},{},[1249],{"type":82,"value":671},{"type":76,"tag":204,"props":1251,"children":1252},{},[1253],{"type":82,"value":1254},"X",{"type":76,"tag":641,"props":1256,"children":1257},{},[1258],{"type":82,"value":681},{"type":76,"tag":655,"props":1260,"children":1261},{},[1262,1266],{"type":76,"tag":198,"props":1263,"children":1264},{},[1265],{"type":82,"value":662},{"type":76,"tag":664,"props":1267,"children":1268},{},[1269,1273],{"type":76,"tag":635,"props":1270,"children":1271},{},[1272],{"type":82,"value":671},{"type":76,"tag":198,"props":1274,"children":1275},{},[1276],{"type":82,"value":1277},"2",{"type":76,"tag":641,"props":1279,"children":1280},{"fence":389},[1281],{"type":82,"value":705},{"type":76,"tag":641,"props":1283,"children":1284},{},[1285],{"type":82,"value":710},{"type":76,"tag":198,"props":1287,"children":1288},{},[1289],{"type":82,"value":715},{"type":76,"tag":379,"props":1291,"children":1292},{"encoding":381},[1293],{"type":82,"value":1294},"\\text{Arbitrage \\%} = \\left(\\frac{1}{\\text{Odds}_1} + \\frac{1}{\\text{Odds}_X} + \\frac{1}{\\text{Odds}_2}\\right) \\times 100\n",{"type":76,"tag":174,"props":1296,"children":1298},{"className":1297,"ariaHidden":389},[388],[1299,1329,1856],{"type":76,"tag":174,"props":1300,"children":1302},{"className":1301},[394],[1303,1307,1316,1320,1325],{"type":76,"tag":174,"props":1304,"children":1306},{"className":1305,"style":732},[399],[],{"type":76,"tag":174,"props":1308,"children":1310},{"className":1309},[405,82],[1311],{"type":76,"tag":174,"props":1312,"children":1314},{"className":1313},[405],[1315],{"type":82,"value":639},{"type":76,"tag":174,"props":1317,"children":1319},{"className":1318,"style":747},[746],[],{"type":76,"tag":174,"props":1321,"children":1323},{"className":1322},[752],[1324],{"type":82,"value":645},{"type":76,"tag":174,"props":1326,"children":1328},{"className":1327,"style":747},[746],[],{"type":76,"tag":174,"props":1330,"children":1332},{"className":1331},[394],[1333,1337,1843,1847,1852],{"type":76,"tag":174,"props":1334,"children":1336},{"className":1335,"style":766},[399],[],{"type":76,"tag":174,"props":1338,"children":1340},{"className":1339},[771],[1341,1350,1505,1509,1514,1518,1670,1674,1679,1683,1834],{"type":76,"tag":174,"props":1342,"children":1344},{"className":1343,"style":778},[776,777],[1345],{"type":76,"tag":174,"props":1346,"children":1348},{"className":1347},[783,784],[1349],{"type":82,"value":653},{"type":76,"tag":174,"props":1351,"children":1353},{"className":1352},[405],[1354,1358,1501],{"type":76,"tag":174,"props":1355,"children":1357},{"className":1356},[776,794],[],{"type":76,"tag":174,"props":1359,"children":1361},{"className":1360},[655],[1362],{"type":76,"tag":174,"props":1363,"children":1365},{"className":1364},[803,804],[1366,1489],{"type":76,"tag":174,"props":1367,"children":1369},{"className":1368},[809],[1370,1484],{"type":76,"tag":174,"props":1371,"children":1373},{"className":1372,"style":815},[814],[1374,1453,1464],{"type":76,"tag":174,"props":1375,"children":1376},{"style":819},[1377,1381],{"type":76,"tag":174,"props":1378,"children":1380},{"className":1379,"style":825},[824],[],{"type":76,"tag":174,"props":1382,"children":1384},{"className":1383},[830,831,832,833],[1385],{"type":76,"tag":174,"props":1386,"children":1388},{"className":1387},[405,833],[1389],{"type":76,"tag":174,"props":1390,"children":1392},{"className":1391},[405,833],[1393,1402],{"type":76,"tag":174,"props":1394,"children":1396},{"className":1395},[405,82,833],[1397],{"type":76,"tag":174,"props":1398,"children":1400},{"className":1399},[405,833],[1401],{"type":82,"value":671},{"type":76,"tag":174,"props":1403,"children":1405},{"className":1404},[855],[1406],{"type":76,"tag":174,"props":1407,"children":1409},{"className":1408},[803,804],[1410,1441],{"type":76,"tag":174,"props":1411,"children":1413},{"className":1412},[809],[1414,1436],{"type":76,"tag":174,"props":1415,"children":1418},{"className":1416,"style":1417},[814],"height:0.3173em;",[1419],{"type":76,"tag":174,"props":1420,"children":1422},{"style":1421},"top:-2.357em;margin-right:0.0714em;",[1423,1427],{"type":76,"tag":174,"props":1424,"children":1426},{"className":1425,"style":877},[824],[],{"type":76,"tag":174,"props":1428,"children":1430},{"className":1429},[830,882,883,833],[1431],{"type":76,"tag":174,"props":1432,"children":1434},{"className":1433},[405,833],[1435],{"type":82,"value":662},{"type":76,"tag":174,"props":1437,"children":1439},{"className":1438},[893],[1440],{"type":82,"value":896},{"type":76,"tag":174,"props":1442,"children":1444},{"className":1443},[809],[1445],{"type":76,"tag":174,"props":1446,"children":1449},{"className":1447,"style":1448},[814],"height:0.143em;",[1450],{"type":76,"tag":174,"props":1451,"children":1452},{},[],{"type":76,"tag":174,"props":1454,"children":1455},{"style":911},[1456,1460],{"type":76,"tag":174,"props":1457,"children":1459},{"className":1458,"style":825},[824],[],{"type":76,"tag":174,"props":1461,"children":1463},{"className":1462,"style":921},[920],[],{"type":76,"tag":174,"props":1465,"children":1466},{"style":925},[1467,1471],{"type":76,"tag":174,"props":1468,"children":1470},{"className":1469,"style":825},[824],[],{"type":76,"tag":174,"props":1472,"children":1474},{"className":1473},[830,831,832,833],[1475],{"type":76,"tag":174,"props":1476,"children":1478},{"className":1477},[405,833],[1479],{"type":76,"tag":174,"props":1480,"children":1482},{"className":1481},[405,833],[1483],{"type":82,"value":662},{"type":76,"tag":174,"props":1485,"children":1487},{"className":1486},[893],[1488],{"type":82,"value":896},{"type":76,"tag":174,"props":1490,"children":1492},{"className":1491},[809],[1493],{"type":76,"tag":174,"props":1494,"children":1497},{"className":1495,"style":1496},[814],"height:0.4451em;",[1498],{"type":76,"tag":174,"props":1499,"children":1500},{},[],{"type":76,"tag":174,"props":1502,"children":1504},{"className":1503},[964,794],[],{"type":76,"tag":174,"props":1506,"children":1508},{"className":1507,"style":969},[746],[],{"type":76,"tag":174,"props":1510,"children":1512},{"className":1511},[974],[1513],{"type":82,"value":681},{"type":76,"tag":174,"props":1515,"children":1517},{"className":1516,"style":969},[746],[],{"type":76,"tag":174,"props":1519,"children":1521},{"className":1520},[405],[1522,1526,1666],{"type":76,"tag":174,"props":1523,"children":1525},{"className":1524},[776,794],[],{"type":76,"tag":174,"props":1527,"children":1529},{"className":1528},[655],[1530],{"type":76,"tag":174,"props":1531,"children":1533},{"className":1532},[803,804],[1534,1655],{"type":76,"tag":174,"props":1535,"children":1537},{"className":1536},[809],[1538,1650],{"type":76,"tag":174,"props":1539,"children":1541},{"className":1540,"style":815},[814],[1542,1619,1630],{"type":76,"tag":174,"props":1543,"children":1544},{"style":819},[1545,1549],{"type":76,"tag":174,"props":1546,"children":1548},{"className":1547,"style":825},[824],[],{"type":76,"tag":174,"props":1550,"children":1552},{"className":1551},[830,831,832,833],[1553],{"type":76,"tag":174,"props":1554,"children":1556},{"className":1555},[405,833],[1557],{"type":76,"tag":174,"props":1558,"children":1560},{"className":1559},[405,833],[1561,1570],{"type":76,"tag":174,"props":1562,"children":1564},{"className":1563},[405,82,833],[1565],{"type":76,"tag":174,"props":1566,"children":1568},{"className":1567},[405,833],[1569],{"type":82,"value":671},{"type":76,"tag":174,"props":1571,"children":1573},{"className":1572},[855],[1574],{"type":76,"tag":174,"props":1575,"children":1577},{"className":1576},[803,804],[1578,1608],{"type":76,"tag":174,"props":1579,"children":1581},{"className":1580},[809],[1582,1603],{"type":76,"tag":174,"props":1583,"children":1585},{"className":1584,"style":868},[814],[1586],{"type":76,"tag":174,"props":1587,"children":1588},{"style":872},[1589,1593],{"type":76,"tag":174,"props":1590,"children":1592},{"className":1591,"style":877},[824],[],{"type":76,"tag":174,"props":1594,"children":1596},{"className":1595},[830,882,883,833],[1597],{"type":76,"tag":174,"props":1598,"children":1601},{"className":1599,"style":1600},[405,411,833],"margin-right:0.0785em;",[1602],{"type":82,"value":1254},{"type":76,"tag":174,"props":1604,"children":1606},{"className":1605},[893],[1607],{"type":82,"value":896},{"type":76,"tag":174,"props":1609,"children":1611},{"className":1610},[809],[1612],{"type":76,"tag":174,"props":1613,"children":1615},{"className":1614,"style":904},[814],[1616],{"type":76,"tag":174,"props":1617,"children":1618},{},[],{"type":76,"tag":174,"props":1620,"children":1621},{"style":911},[1622,1626],{"type":76,"tag":174,"props":1623,"children":1625},{"className":1624,"style":825},[824],[],{"type":76,"tag":174,"props":1627,"children":1629},{"className":1628,"style":921},[920],[],{"type":76,"tag":174,"props":1631,"children":1632},{"style":925},[1633,1637],{"type":76,"tag":174,"props":1634,"children":1636},{"className":1635,"style":825},[824],[],{"type":76,"tag":174,"props":1638,"children":1640},{"className":1639},[830,831,832,833],[1641],{"type":76,"tag":174,"props":1642,"children":1644},{"className":1643},[405,833],[1645],{"type":76,"tag":174,"props":1646,"children":1648},{"className":1647},[405,833],[1649],{"type":82,"value":662},{"type":76,"tag":174,"props":1651,"children":1653},{"className":1652},[893],[1654],{"type":82,"value":896},{"type":76,"tag":174,"props":1656,"children":1658},{"className":1657},[809],[1659],{"type":76,"tag":174,"props":1660,"children":1662},{"className":1661,"style":956},[814],[1663],{"type":76,"tag":174,"props":1664,"children":1665},{},[],{"type":76,"tag":174,"props":1667,"children":1669},{"className":1668},[964,794],[],{"type":76,"tag":174,"props":1671,"children":1673},{"className":1672,"style":969},[746],[],{"type":76,"tag":174,"props":1675,"children":1677},{"className":1676},[974],[1678],{"type":82,"value":681},{"type":76,"tag":174,"props":1680,"children":1682},{"className":1681,"style":969},[746],[],{"type":76,"tag":174,"props":1684,"children":1686},{"className":1685},[405],[1687,1691,1830],{"type":76,"tag":174,"props":1688,"children":1690},{"className":1689},[776,794],[],{"type":76,"tag":174,"props":1692,"children":1694},{"className":1693},[655],[1695],{"type":76,"tag":174,"props":1696,"children":1698},{"className":1697},[803,804],[1699,1819],{"type":76,"tag":174,"props":1700,"children":1702},{"className":1701},[809],[1703,1814],{"type":76,"tag":174,"props":1704,"children":1706},{"className":1705,"style":815},[814],[1707,1783,1794],{"type":76,"tag":174,"props":1708,"children":1709},{"style":819},[1710,1714],{"type":76,"tag":174,"props":1711,"children":1713},{"className":1712,"style":825},[824],[],{"type":76,"tag":174,"props":1715,"children":1717},{"className":1716},[830,831,832,833],[1718],{"type":76,"tag":174,"props":1719,"children":1721},{"className":1720},[405,833],[1722],{"type":76,"tag":174,"props":1723,"children":1725},{"className":1724},[405,833],[1726,1735],{"type":76,"tag":174,"props":1727,"children":1729},{"className":1728},[405,82,833],[1730],{"type":76,"tag":174,"props":1731,"children":1733},{"className":1732},[405,833],[1734],{"type":82,"value":671},{"type":76,"tag":174,"props":1736,"children":1738},{"className":1737},[855],[1739],{"type":76,"tag":174,"props":1740,"children":1742},{"className":1741},[803,804],[1743,1772],{"type":76,"tag":174,"props":1744,"children":1746},{"className":1745},[809],[1747,1767],{"type":76,"tag":174,"props":1748,"children":1750},{"className":1749,"style":1417},[814],[1751],{"type":76,"tag":174,"props":1752,"children":1753},{"style":1421},[1754,1758],{"type":76,"tag":174,"props":1755,"children":1757},{"className":1756,"style":877},[824],[],{"type":76,"tag":174,"props":1759,"children":1761},{"className":1760},[830,882,883,833],[1762],{"type":76,"tag":174,"props":1763,"children":1765},{"className":1764},[405,833],[1766],{"type":82,"value":1277},{"type":76,"tag":174,"props":1768,"children":1770},{"className":1769},[893],[1771],{"type":82,"value":896},{"type":76,"tag":174,"props":1773,"children":1775},{"className":1774},[809],[1776],{"type":76,"tag":174,"props":1777,"children":1779},{"className":1778,"style":1448},[814],[1780],{"type":76,"tag":174,"props":1781,"children":1782},{},[],{"type":76,"tag":174,"props":1784,"children":1785},{"style":911},[1786,1790],{"type":76,"tag":174,"props":1787,"children":1789},{"className":1788,"style":825},[824],[],{"type":76,"tag":174,"props":1791,"children":1793},{"className":1792,"style":921},[920],[],{"type":76,"tag":174,"props":1795,"children":1796},{"style":925},[1797,1801],{"type":76,"tag":174,"props":1798,"children":1800},{"className":1799,"style":825},[824],[],{"type":76,"tag":174,"props":1802,"children":1804},{"className":1803},[830,831,832,833],[1805],{"type":76,"tag":174,"props":1806,"children":1808},{"className":1807},[405,833],[1809],{"type":76,"tag":174,"props":1810,"children":1812},{"className":1811},[405,833],[1813],{"type":82,"value":662},{"type":76,"tag":174,"props":1815,"children":1817},{"className":1816},[893],[1818],{"type":82,"value":896},{"type":76,"tag":174,"props":1820,"children":1822},{"className":1821},[809],[1823],{"type":76,"tag":174,"props":1824,"children":1826},{"className":1825,"style":1496},[814],[1827],{"type":76,"tag":174,"props":1828,"children":1829},{},[],{"type":76,"tag":174,"props":1831,"children":1833},{"className":1832},[964,794],[],{"type":76,"tag":174,"props":1835,"children":1837},{"className":1836,"style":778},[964,777],[1838],{"type":76,"tag":174,"props":1839,"children":1841},{"className":1840},[783,784],[1842],{"type":82,"value":705},{"type":76,"tag":174,"props":1844,"children":1846},{"className":1845,"style":969},[746],[],{"type":76,"tag":174,"props":1848,"children":1850},{"className":1849},[974],[1851],{"type":82,"value":710},{"type":76,"tag":174,"props":1853,"children":1855},{"className":1854,"style":969},[746],[],{"type":76,"tag":174,"props":1857,"children":1859},{"className":1858},[394],[1860,1864],{"type":76,"tag":174,"props":1861,"children":1863},{"className":1862,"style":1162},[399],[],{"type":76,"tag":174,"props":1865,"children":1867},{"className":1866},[405],[1868],{"type":82,"value":715},{"type":76,"tag":606,"props":1870,"children":1872},{"id":1871},"calculating-individual-stakes",[1873],{"type":82,"value":1874},"Calculating Individual Stakes",{"type":76,"tag":85,"props":1876,"children":1877},{},[1878],{"type":82,"value":1879},"Once you've found an arbitrage opportunity, calculate how much to bet on each outcome:",{"type":76,"tag":174,"props":1881,"children":1883},{"className":1882},[177],[1884,1958],{"type":76,"tag":174,"props":1885,"children":1887},{"className":1886},[182],[1888],{"type":76,"tag":185,"props":1889,"children":1890},{"xmlns":187},[1891],{"type":76,"tag":190,"props":1892,"children":1893},{},[1894,1953],{"type":76,"tag":194,"props":1895,"children":1896},{},[1897,1909,1913],{"type":76,"tag":664,"props":1898,"children":1899},{},[1900,1905],{"type":76,"tag":635,"props":1901,"children":1902},{},[1903],{"type":82,"value":1904},"Stake",{"type":76,"tag":204,"props":1906,"children":1907},{},[1908],{"type":82,"value":676},{"type":76,"tag":641,"props":1910,"children":1911},{},[1912],{"type":82,"value":645},{"type":76,"tag":655,"props":1914,"children":1915},{},[1916,1921],{"type":76,"tag":635,"props":1917,"children":1918},{},[1919],{"type":82,"value":1920},"Total Investment",{"type":76,"tag":194,"props":1922,"children":1923},{},[1924,1935,1939,1943,1949],{"type":76,"tag":664,"props":1925,"children":1926},{},[1927,1931],{"type":76,"tag":635,"props":1928,"children":1929},{},[1930],{"type":82,"value":671},{"type":76,"tag":204,"props":1932,"children":1933},{},[1934],{"type":82,"value":676},{"type":76,"tag":641,"props":1936,"children":1937},{},[1938],{"type":82,"value":710},{"type":76,"tag":635,"props":1940,"children":1941},{},[1942],{"type":82,"value":639},{"type":76,"tag":204,"props":1944,"children":1946},{"mathvariant":1945},"normal",[1947],{"type":82,"value":1948},"\u002F",{"type":76,"tag":198,"props":1950,"children":1951},{},[1952],{"type":82,"value":715},{"type":76,"tag":379,"props":1954,"children":1955},{"encoding":381},[1956],{"type":82,"value":1957},"\\text{Stake}_A = \\frac{\\text{Total Investment}}{\\text{Odds}_A \\times \\text{Arbitrage \\%} \u002F 100}\n",{"type":76,"tag":174,"props":1959,"children":1961},{"className":1960,"ariaHidden":389},[388],[1962,2049],{"type":76,"tag":174,"props":1963,"children":1965},{"className":1964},[394],[1966,1971,2036,2040,2045],{"type":76,"tag":174,"props":1967,"children":1970},{"className":1968,"style":1969},[399],"height:0.8444em;vertical-align:-0.15em;",[],{"type":76,"tag":174,"props":1972,"children":1974},{"className":1973},[405],[1975,1984],{"type":76,"tag":174,"props":1976,"children":1978},{"className":1977},[405,82],[1979],{"type":76,"tag":174,"props":1980,"children":1982},{"className":1981},[405],[1983],{"type":82,"value":1904},{"type":76,"tag":174,"props":1985,"children":1987},{"className":1986},[855],[1988],{"type":76,"tag":174,"props":1989,"children":1991},{"className":1990},[803,804],[1992,2024],{"type":76,"tag":174,"props":1993,"children":1995},{"className":1994},[809],[1996,2019],{"type":76,"tag":174,"props":1997,"children":2000},{"className":1998,"style":1999},[814],"height:0.3283em;",[2001],{"type":76,"tag":174,"props":2002,"children":2004},{"style":2003},"top:-2.55em;margin-right:0.05em;",[2005,2010],{"type":76,"tag":174,"props":2006,"children":2009},{"className":2007,"style":2008},[824],"height:2.7em;",[],{"type":76,"tag":174,"props":2011,"children":2013},{"className":2012},[830,831,832,833],[2014],{"type":76,"tag":174,"props":2015,"children":2017},{"className":2016},[405,411,833],[2018],{"type":82,"value":676},{"type":76,"tag":174,"props":2020,"children":2022},{"className":2021},[893],[2023],{"type":82,"value":896},{"type":76,"tag":174,"props":2025,"children":2027},{"className":2026},[809],[2028],{"type":76,"tag":174,"props":2029,"children":2032},{"className":2030,"style":2031},[814],"height:0.15em;",[2033],{"type":76,"tag":174,"props":2034,"children":2035},{},[],{"type":76,"tag":174,"props":2037,"children":2039},{"className":2038,"style":747},[746],[],{"type":76,"tag":174,"props":2041,"children":2043},{"className":2042},[752],[2044],{"type":82,"value":645},{"type":76,"tag":174,"props":2046,"children":2048},{"className":2047,"style":747},[746],[],{"type":76,"tag":174,"props":2050,"children":2052},{"className":2051},[394],[2053,2058],{"type":76,"tag":174,"props":2054,"children":2057},{"className":2055,"style":2056},[399],"height:1.4001em;vertical-align:-0.52em;",[],{"type":76,"tag":174,"props":2059,"children":2061},{"className":2060},[405],[2062,2066,2231],{"type":76,"tag":174,"props":2063,"children":2065},{"className":2064},[776,794],[],{"type":76,"tag":174,"props":2067,"children":2069},{"className":2068},[655],[2070],{"type":76,"tag":174,"props":2071,"children":2073},{"className":2072},[803,804],[2074,2219],{"type":76,"tag":174,"props":2075,"children":2077},{"className":2076},[809],[2078,2214],{"type":76,"tag":174,"props":2079,"children":2082},{"className":2080,"style":2081},[814],"height:0.8801em;",[2083,2179,2190],{"type":76,"tag":174,"props":2084,"children":2085},{"style":819},[2086,2090],{"type":76,"tag":174,"props":2087,"children":2089},{"className":2088,"style":825},[824],[],{"type":76,"tag":174,"props":2091,"children":2093},{"className":2092},[830,831,832,833],[2094],{"type":76,"tag":174,"props":2095,"children":2097},{"className":2096},[405,833],[2098,2159,2164,2173],{"type":76,"tag":174,"props":2099,"children":2101},{"className":2100},[405,833],[2102,2111],{"type":76,"tag":174,"props":2103,"children":2105},{"className":2104},[405,82,833],[2106],{"type":76,"tag":174,"props":2107,"children":2109},{"className":2108},[405,833],[2110],{"type":82,"value":671},{"type":76,"tag":174,"props":2112,"children":2114},{"className":2113},[855],[2115],{"type":76,"tag":174,"props":2116,"children":2118},{"className":2117},[803,804],[2119,2148],{"type":76,"tag":174,"props":2120,"children":2122},{"className":2121},[809],[2123,2143],{"type":76,"tag":174,"props":2124,"children":2126},{"className":2125,"style":868},[814],[2127],{"type":76,"tag":174,"props":2128,"children":2129},{"style":872},[2130,2134],{"type":76,"tag":174,"props":2131,"children":2133},{"className":2132,"style":877},[824],[],{"type":76,"tag":174,"props":2135,"children":2137},{"className":2136},[830,882,883,833],[2138],{"type":76,"tag":174,"props":2139,"children":2141},{"className":2140},[405,411,833],[2142],{"type":82,"value":676},{"type":76,"tag":174,"props":2144,"children":2146},{"className":2145},[893],[2147],{"type":82,"value":896},{"type":76,"tag":174,"props":2149,"children":2151},{"className":2150},[809],[2152],{"type":76,"tag":174,"props":2153,"children":2155},{"className":2154,"style":904},[814],[2156],{"type":76,"tag":174,"props":2157,"children":2158},{},[],{"type":76,"tag":174,"props":2160,"children":2162},{"className":2161},[974,833],[2163],{"type":82,"value":710},{"type":76,"tag":174,"props":2165,"children":2167},{"className":2166},[405,82,833],[2168],{"type":76,"tag":174,"props":2169,"children":2171},{"className":2170},[405,833],[2172],{"type":82,"value":639},{"type":76,"tag":174,"props":2174,"children":2176},{"className":2175},[405,833],[2177],{"type":82,"value":2178},"\u002F100",{"type":76,"tag":174,"props":2180,"children":2181},{"style":911},[2182,2186],{"type":76,"tag":174,"props":2183,"children":2185},{"className":2184,"style":825},[824],[],{"type":76,"tag":174,"props":2187,"children":2189},{"className":2188,"style":921},[920],[],{"type":76,"tag":174,"props":2191,"children":2192},{"style":925},[2193,2197],{"type":76,"tag":174,"props":2194,"children":2196},{"className":2195,"style":825},[824],[],{"type":76,"tag":174,"props":2198,"children":2200},{"className":2199},[830,831,832,833],[2201],{"type":76,"tag":174,"props":2202,"children":2204},{"className":2203},[405,833],[2205],{"type":76,"tag":174,"props":2206,"children":2208},{"className":2207},[405,82,833],[2209],{"type":76,"tag":174,"props":2210,"children":2212},{"className":2211},[405,833],[2213],{"type":82,"value":1920},{"type":76,"tag":174,"props":2215,"children":2217},{"className":2216},[893],[2218],{"type":82,"value":896},{"type":76,"tag":174,"props":2220,"children":2222},{"className":2221},[809],[2223],{"type":76,"tag":174,"props":2224,"children":2227},{"className":2225,"style":2226},[814],"height:0.52em;",[2228],{"type":76,"tag":174,"props":2229,"children":2230},{},[],{"type":76,"tag":174,"props":2232,"children":2234},{"className":2233},[964,794],[],{"type":76,"tag":174,"props":2236,"children":2238},{"className":2237},[177],[2239,2309],{"type":76,"tag":174,"props":2240,"children":2242},{"className":2241},[182],[2243],{"type":76,"tag":185,"props":2244,"children":2245},{"xmlns":187},[2246],{"type":76,"tag":190,"props":2247,"children":2248},{},[2249,2304],{"type":76,"tag":194,"props":2250,"children":2251},{},[2252,2263,2267],{"type":76,"tag":664,"props":2253,"children":2254},{},[2255,2259],{"type":76,"tag":635,"props":2256,"children":2257},{},[2258],{"type":82,"value":1904},{"type":76,"tag":204,"props":2260,"children":2261},{},[2262],{"type":82,"value":700},{"type":76,"tag":641,"props":2264,"children":2265},{},[2266],{"type":82,"value":645},{"type":76,"tag":655,"props":2268,"children":2269},{},[2270,2274],{"type":76,"tag":635,"props":2271,"children":2272},{},[2273],{"type":82,"value":1920},{"type":76,"tag":194,"props":2275,"children":2276},{},[2277,2288,2292,2296,2300],{"type":76,"tag":664,"props":2278,"children":2279},{},[2280,2284],{"type":76,"tag":635,"props":2281,"children":2282},{},[2283],{"type":82,"value":671},{"type":76,"tag":204,"props":2285,"children":2286},{},[2287],{"type":82,"value":700},{"type":76,"tag":641,"props":2289,"children":2290},{},[2291],{"type":82,"value":710},{"type":76,"tag":635,"props":2293,"children":2294},{},[2295],{"type":82,"value":639},{"type":76,"tag":204,"props":2297,"children":2298},{"mathvariant":1945},[2299],{"type":82,"value":1948},{"type":76,"tag":198,"props":2301,"children":2302},{},[2303],{"type":82,"value":715},{"type":76,"tag":379,"props":2305,"children":2306},{"encoding":381},[2307],{"type":82,"value":2308},"\\text{Stake}_B = \\frac{\\text{Total Investment}}{\\text{Odds}_B \\times \\text{Arbitrage \\%} \u002F 100}\n",{"type":76,"tag":174,"props":2310,"children":2312},{"className":2311,"ariaHidden":389},[388],[2313,2395],{"type":76,"tag":174,"props":2314,"children":2316},{"className":2315},[394],[2317,2321,2382,2386,2391],{"type":76,"tag":174,"props":2318,"children":2320},{"className":2319,"style":1969},[399],[],{"type":76,"tag":174,"props":2322,"children":2324},{"className":2323},[405],[2325,2334],{"type":76,"tag":174,"props":2326,"children":2328},{"className":2327},[405,82],[2329],{"type":76,"tag":174,"props":2330,"children":2332},{"className":2331},[405],[2333],{"type":82,"value":1904},{"type":76,"tag":174,"props":2335,"children":2337},{"className":2336},[855],[2338],{"type":76,"tag":174,"props":2339,"children":2341},{"className":2340},[803,804],[2342,2371],{"type":76,"tag":174,"props":2343,"children":2345},{"className":2344},[809],[2346,2366],{"type":76,"tag":174,"props":2347,"children":2349},{"className":2348,"style":1999},[814],[2350],{"type":76,"tag":174,"props":2351,"children":2352},{"style":2003},[2353,2357],{"type":76,"tag":174,"props":2354,"children":2356},{"className":2355,"style":2008},[824],[],{"type":76,"tag":174,"props":2358,"children":2360},{"className":2359},[830,831,832,833],[2361],{"type":76,"tag":174,"props":2362,"children":2364},{"className":2363,"style":1063},[405,411,833],[2365],{"type":82,"value":700},{"type":76,"tag":174,"props":2367,"children":2369},{"className":2368},[893],[2370],{"type":82,"value":896},{"type":76,"tag":174,"props":2372,"children":2374},{"className":2373},[809],[2375],{"type":76,"tag":174,"props":2376,"children":2378},{"className":2377,"style":2031},[814],[2379],{"type":76,"tag":174,"props":2380,"children":2381},{},[],{"type":76,"tag":174,"props":2383,"children":2385},{"className":2384,"style":747},[746],[],{"type":76,"tag":174,"props":2387,"children":2389},{"className":2388},[752],[2390],{"type":82,"value":645},{"type":76,"tag":174,"props":2392,"children":2394},{"className":2393,"style":747},[746],[],{"type":76,"tag":174,"props":2396,"children":2398},{"className":2397},[394],[2399,2403],{"type":76,"tag":174,"props":2400,"children":2402},{"className":2401,"style":2056},[399],[],{"type":76,"tag":174,"props":2404,"children":2406},{"className":2405},[405],[2407,2411,2573],{"type":76,"tag":174,"props":2408,"children":2410},{"className":2409},[776,794],[],{"type":76,"tag":174,"props":2412,"children":2414},{"className":2413},[655],[2415],{"type":76,"tag":174,"props":2416,"children":2418},{"className":2417},[803,804],[2419,2562],{"type":76,"tag":174,"props":2420,"children":2422},{"className":2421},[809],[2423,2557],{"type":76,"tag":174,"props":2424,"children":2426},{"className":2425,"style":2081},[814],[2427,2522,2533],{"type":76,"tag":174,"props":2428,"children":2429},{"style":819},[2430,2434],{"type":76,"tag":174,"props":2431,"children":2433},{"className":2432,"style":825},[824],[],{"type":76,"tag":174,"props":2435,"children":2437},{"className":2436},[830,831,832,833],[2438],{"type":76,"tag":174,"props":2439,"children":2441},{"className":2440},[405,833],[2442,2503,2508,2517],{"type":76,"tag":174,"props":2443,"children":2445},{"className":2444},[405,833],[2446,2455],{"type":76,"tag":174,"props":2447,"children":2449},{"className":2448},[405,82,833],[2450],{"type":76,"tag":174,"props":2451,"children":2453},{"className":2452},[405,833],[2454],{"type":82,"value":671},{"type":76,"tag":174,"props":2456,"children":2458},{"className":2457},[855],[2459],{"type":76,"tag":174,"props":2460,"children":2462},{"className":2461},[803,804],[2463,2492],{"type":76,"tag":174,"props":2464,"children":2466},{"className":2465},[809],[2467,2487],{"type":76,"tag":174,"props":2468,"children":2470},{"className":2469,"style":868},[814],[2471],{"type":76,"tag":174,"props":2472,"children":2473},{"style":872},[2474,2478],{"type":76,"tag":174,"props":2475,"children":2477},{"className":2476,"style":877},[824],[],{"type":76,"tag":174,"props":2479,"children":2481},{"className":2480},[830,882,883,833],[2482],{"type":76,"tag":174,"props":2483,"children":2485},{"className":2484,"style":1063},[405,411,833],[2486],{"type":82,"value":700},{"type":76,"tag":174,"props":2488,"children":2490},{"className":2489},[893],[2491],{"type":82,"value":896},{"type":76,"tag":174,"props":2493,"children":2495},{"className":2494},[809],[2496],{"type":76,"tag":174,"props":2497,"children":2499},{"className":2498,"style":904},[814],[2500],{"type":76,"tag":174,"props":2501,"children":2502},{},[],{"type":76,"tag":174,"props":2504,"children":2506},{"className":2505},[974,833],[2507],{"type":82,"value":710},{"type":76,"tag":174,"props":2509,"children":2511},{"className":2510},[405,82,833],[2512],{"type":76,"tag":174,"props":2513,"children":2515},{"className":2514},[405,833],[2516],{"type":82,"value":639},{"type":76,"tag":174,"props":2518,"children":2520},{"className":2519},[405,833],[2521],{"type":82,"value":2178},{"type":76,"tag":174,"props":2523,"children":2524},{"style":911},[2525,2529],{"type":76,"tag":174,"props":2526,"children":2528},{"className":2527,"style":825},[824],[],{"type":76,"tag":174,"props":2530,"children":2532},{"className":2531,"style":921},[920],[],{"type":76,"tag":174,"props":2534,"children":2535},{"style":925},[2536,2540],{"type":76,"tag":174,"props":2537,"children":2539},{"className":2538,"style":825},[824],[],{"type":76,"tag":174,"props":2541,"children":2543},{"className":2542},[830,831,832,833],[2544],{"type":76,"tag":174,"props":2545,"children":2547},{"className":2546},[405,833],[2548],{"type":76,"tag":174,"props":2549,"children":2551},{"className":2550},[405,82,833],[2552],{"type":76,"tag":174,"props":2553,"children":2555},{"className":2554},[405,833],[2556],{"type":82,"value":1920},{"type":76,"tag":174,"props":2558,"children":2560},{"className":2559},[893],[2561],{"type":82,"value":896},{"type":76,"tag":174,"props":2563,"children":2565},{"className":2564},[809],[2566],{"type":76,"tag":174,"props":2567,"children":2569},{"className":2568,"style":2226},[814],[2570],{"type":76,"tag":174,"props":2571,"children":2572},{},[],{"type":76,"tag":174,"props":2574,"children":2576},{"className":2575},[964,794],[],{"type":76,"tag":606,"props":2578,"children":2580},{"id":2579},"calculating-guaranteed-profit",[2581],{"type":82,"value":2582},"Calculating Guaranteed Profit",{"type":76,"tag":174,"props":2584,"children":2586},{"className":2585},[177],[2587,2653],{"type":76,"tag":174,"props":2588,"children":2590},{"className":2589},[182],[2591],{"type":76,"tag":185,"props":2592,"children":2593},{"xmlns":187},[2594],{"type":76,"tag":190,"props":2595,"children":2596},{},[2597,2648],{"type":76,"tag":194,"props":2598,"children":2599},{},[2600,2605,2609,2613,2617],{"type":76,"tag":635,"props":2601,"children":2602},{},[2603],{"type":82,"value":2604},"Profit",{"type":76,"tag":641,"props":2606,"children":2607},{},[2608],{"type":82,"value":645},{"type":76,"tag":635,"props":2610,"children":2611},{},[2612],{"type":82,"value":1920},{"type":76,"tag":641,"props":2614,"children":2615},{},[2616],{"type":82,"value":710},{"type":76,"tag":194,"props":2618,"children":2619},{},[2620,2624,2635,2640,2644],{"type":76,"tag":641,"props":2621,"children":2622},{"fence":389},[2623],{"type":82,"value":653},{"type":76,"tag":655,"props":2625,"children":2626},{},[2627,2631],{"type":76,"tag":198,"props":2628,"children":2629},{},[2630],{"type":82,"value":715},{"type":76,"tag":635,"props":2632,"children":2633},{},[2634],{"type":82,"value":639},{"type":76,"tag":641,"props":2636,"children":2637},{},[2638],{"type":82,"value":2639},"−",{"type":76,"tag":198,"props":2641,"children":2642},{},[2643],{"type":82,"value":662},{"type":76,"tag":641,"props":2645,"children":2646},{"fence":389},[2647],{"type":82,"value":705},{"type":76,"tag":379,"props":2649,"children":2650},{"encoding":381},[2651],{"type":82,"value":2652},"\\text{Profit} = \\text{Total Investment} \\times \\left(\\frac{100}{\\text{Arbitrage \\%}} - 1\\right)\n",{"type":76,"tag":174,"props":2654,"children":2656},{"className":2655,"ariaHidden":389},[388],[2657,2688,2719],{"type":76,"tag":174,"props":2658,"children":2660},{"className":2659},[394],[2661,2666,2675,2679,2684],{"type":76,"tag":174,"props":2662,"children":2665},{"className":2663,"style":2664},[399],"height:0.6944em;",[],{"type":76,"tag":174,"props":2667,"children":2669},{"className":2668},[405,82],[2670],{"type":76,"tag":174,"props":2671,"children":2673},{"className":2672},[405],[2674],{"type":82,"value":2604},{"type":76,"tag":174,"props":2676,"children":2678},{"className":2677,"style":747},[746],[],{"type":76,"tag":174,"props":2680,"children":2682},{"className":2681},[752],[2683],{"type":82,"value":645},{"type":76,"tag":174,"props":2685,"children":2687},{"className":2686,"style":747},[746],[],{"type":76,"tag":174,"props":2689,"children":2691},{"className":2690},[394],[2692,2697,2706,2710,2715],{"type":76,"tag":174,"props":2693,"children":2696},{"className":2694,"style":2695},[399],"height:0.7778em;vertical-align:-0.0833em;",[],{"type":76,"tag":174,"props":2698,"children":2700},{"className":2699},[405,82],[2701],{"type":76,"tag":174,"props":2702,"children":2704},{"className":2703},[405],[2705],{"type":82,"value":1920},{"type":76,"tag":174,"props":2707,"children":2709},{"className":2708,"style":969},[746],[],{"type":76,"tag":174,"props":2711,"children":2713},{"className":2712},[974],[2714],{"type":82,"value":710},{"type":76,"tag":174,"props":2716,"children":2718},{"className":2717,"style":969},[746],[],{"type":76,"tag":174,"props":2720,"children":2722},{"className":2721},[394],[2723,2727],{"type":76,"tag":174,"props":2724,"children":2726},{"className":2725,"style":766},[399],[],{"type":76,"tag":174,"props":2728,"children":2730},{"className":2729},[771],[2731,2740,2840,2844,2849,2853,2858],{"type":76,"tag":174,"props":2732,"children":2734},{"className":2733,"style":778},[776,777],[2735],{"type":76,"tag":174,"props":2736,"children":2738},{"className":2737},[783,784],[2739],{"type":82,"value":653},{"type":76,"tag":174,"props":2741,"children":2743},{"className":2742},[405],[2744,2748,2836],{"type":76,"tag":174,"props":2745,"children":2747},{"className":2746},[776,794],[],{"type":76,"tag":174,"props":2749,"children":2751},{"className":2750},[655],[2752],{"type":76,"tag":174,"props":2753,"children":2755},{"className":2754},[803,804],[2756,2824],{"type":76,"tag":174,"props":2757,"children":2759},{"className":2758},[809],[2760,2819],{"type":76,"tag":174,"props":2761,"children":2763},{"className":2762,"style":815},[814],[2764,2788,2799],{"type":76,"tag":174,"props":2765,"children":2766},{"style":819},[2767,2771],{"type":76,"tag":174,"props":2768,"children":2770},{"className":2769,"style":825},[824],[],{"type":76,"tag":174,"props":2772,"children":2774},{"className":2773},[830,831,832,833],[2775],{"type":76,"tag":174,"props":2776,"children":2778},{"className":2777},[405,833],[2779],{"type":76,"tag":174,"props":2780,"children":2782},{"className":2781},[405,82,833],[2783],{"type":76,"tag":174,"props":2784,"children":2786},{"className":2785},[405,833],[2787],{"type":82,"value":639},{"type":76,"tag":174,"props":2789,"children":2790},{"style":911},[2791,2795],{"type":76,"tag":174,"props":2792,"children":2794},{"className":2793,"style":825},[824],[],{"type":76,"tag":174,"props":2796,"children":2798},{"className":2797,"style":921},[920],[],{"type":76,"tag":174,"props":2800,"children":2801},{"style":925},[2802,2806],{"type":76,"tag":174,"props":2803,"children":2805},{"className":2804,"style":825},[824],[],{"type":76,"tag":174,"props":2807,"children":2809},{"className":2808},[830,831,832,833],[2810],{"type":76,"tag":174,"props":2811,"children":2813},{"className":2812},[405,833],[2814],{"type":76,"tag":174,"props":2815,"children":2817},{"className":2816},[405,833],[2818],{"type":82,"value":715},{"type":76,"tag":174,"props":2820,"children":2822},{"className":2821},[893],[2823],{"type":82,"value":896},{"type":76,"tag":174,"props":2825,"children":2827},{"className":2826},[809],[2828],{"type":76,"tag":174,"props":2829,"children":2832},{"className":2830,"style":2831},[814],"height:0.4811em;",[2833],{"type":76,"tag":174,"props":2834,"children":2835},{},[],{"type":76,"tag":174,"props":2837,"children":2839},{"className":2838},[964,794],[],{"type":76,"tag":174,"props":2841,"children":2843},{"className":2842,"style":969},[746],[],{"type":76,"tag":174,"props":2845,"children":2847},{"className":2846},[974],[2848],{"type":82,"value":2639},{"type":76,"tag":174,"props":2850,"children":2852},{"className":2851,"style":969},[746],[],{"type":76,"tag":174,"props":2854,"children":2856},{"className":2855},[405],[2857],{"type":82,"value":662},{"type":76,"tag":174,"props":2859,"children":2861},{"className":2860,"style":778},[964,777],[2862],{"type":76,"tag":174,"props":2863,"children":2865},{"className":2864},[783,784],[2866],{"type":82,"value":705},{"type":76,"tag":77,"props":2868,"children":2870},{"id":2869},"step-by-step-calculation-calculation",[2871],{"type":82,"value":2872},"Step-by-Step Calculation {#calculation}",{"type":76,"tag":606,"props":2874,"children":2876},{"id":2875},"example-tennis-match-arbitrage",[2877],{"type":82,"value":2878},"Example: Tennis Match Arbitrage",{"type":76,"tag":85,"props":2880,"children":2881},{},[2882,2887],{"type":76,"tag":89,"props":2883,"children":2884},{},[2885],{"type":82,"value":2886},"Match:",{"type":82,"value":2888}," Djokovic vs Alcaraz",{"type":76,"tag":2890,"props":2891,"children":2892},"table",{},[2893,2918],{"type":76,"tag":2894,"props":2895,"children":2896},"thead",{},[2897],{"type":76,"tag":48,"props":2898,"children":2899},{},[2900,2905,2910,2914],{"type":76,"tag":2901,"props":2902,"children":2903},"th",{},[2904],{"type":82,"value":54},{"type":76,"tag":2901,"props":2906,"children":2907},{},[2908],{"type":82,"value":2909},"Selection",{"type":76,"tag":2901,"props":2911,"children":2912},{},[2913],{"type":82,"value":671},{"type":76,"tag":2901,"props":2915,"children":2916},{},[2917],{"type":82,"value":61},{"type":76,"tag":2919,"props":2920,"children":2921},"tbody",{},[2922,2946,2969],{"type":76,"tag":48,"props":2923,"children":2924},{},[2925,2931,2936,2941],{"type":76,"tag":2926,"props":2927,"children":2928},"td",{},[2929],{"type":82,"value":2930},"Bet365",{"type":76,"tag":2926,"props":2932,"children":2933},{},[2934],{"type":82,"value":2935},"Djokovic wins",{"type":76,"tag":2926,"props":2937,"children":2938},{},[2939],{"type":82,"value":2940},"2.10",{"type":76,"tag":2926,"props":2942,"children":2943},{},[2944],{"type":82,"value":2945},"47.62%",{"type":76,"tag":48,"props":2947,"children":2948},{},[2949,2954,2959,2964],{"type":76,"tag":2926,"props":2950,"children":2951},{},[2952],{"type":82,"value":2953},"Pinnacle",{"type":76,"tag":2926,"props":2955,"children":2956},{},[2957],{"type":82,"value":2958},"Alcaraz wins",{"type":76,"tag":2926,"props":2960,"children":2961},{},[2962],{"type":82,"value":2963},"2.05",{"type":76,"tag":2926,"props":2965,"children":2966},{},[2967],{"type":82,"value":2968},"48.78%",{"type":76,"tag":48,"props":2970,"children":2971},{},[2972,2980,2983,2986],{"type":76,"tag":2926,"props":2973,"children":2974},{},[2975],{"type":76,"tag":89,"props":2976,"children":2977},{},[2978],{"type":82,"value":2979},"Total",{"type":76,"tag":2926,"props":2981,"children":2982},{},[],{"type":76,"tag":2926,"props":2984,"children":2985},{},[],{"type":76,"tag":2926,"props":2987,"children":2988},{},[2989],{"type":76,"tag":89,"props":2990,"children":2991},{},[2992],{"type":82,"value":2993},"96.40%",{"type":76,"tag":85,"props":2995,"children":2996},{},[2997,3002],{"type":76,"tag":89,"props":2998,"children":2999},{},[3000],{"type":82,"value":3001},"Step 1:",{"type":82,"value":3003}," Verify arbitrage exists",{"type":76,"tag":103,"props":3005,"children":3006},{},[3007,3012],{"type":76,"tag":107,"props":3008,"children":3009},{},[3010],{"type":82,"value":3011},"Arbitrage % = (1\u002F2.10 + 1\u002F2.05) × 100 = 96.40%",{"type":76,"tag":107,"props":3013,"children":3014},{},[3015],{"type":82,"value":3016},"Since 96.40% \u003C 100%, arbitrage exists",{"type":76,"tag":85,"props":3018,"children":3019},{},[3020,3025],{"type":76,"tag":89,"props":3021,"children":3022},{},[3023],{"type":82,"value":3024},"Step 2:",{"type":82,"value":3026}," Calculate profit margin",{"type":76,"tag":103,"props":3028,"children":3029},{},[3030],{"type":76,"tag":107,"props":3031,"children":3032},{},[3033],{"type":82,"value":3034},"Profit margin = (100\u002F96.40) - 1 = 3.73%",{"type":76,"tag":85,"props":3036,"children":3037},{},[3038,3043],{"type":76,"tag":89,"props":3039,"children":3040},{},[3041],{"type":82,"value":3042},"Step 3:",{"type":82,"value":3044}," Calculate stakes for $1,000 total investment",{"type":76,"tag":2890,"props":3046,"children":3047},{},[3048,3075],{"type":76,"tag":2894,"props":3049,"children":3050},{},[3051],{"type":76,"tag":48,"props":3052,"children":3053},{},[3054,3058,3062,3066,3070],{"type":76,"tag":2901,"props":3055,"children":3056},{},[3057],{"type":82,"value":54},{"type":76,"tag":2901,"props":3059,"children":3060},{},[3061],{"type":82,"value":2909},{"type":76,"tag":2901,"props":3063,"children":3064},{},[3065],{"type":82,"value":671},{"type":76,"tag":2901,"props":3067,"children":3068},{},[3069],{"type":82,"value":1904},{"type":76,"tag":2901,"props":3071,"children":3072},{},[3073],{"type":82,"value":3074},"Potential Return",{"type":76,"tag":2919,"props":3076,"children":3077},{},[3078,3104,3130],{"type":76,"tag":48,"props":3079,"children":3080},{},[3081,3085,3090,3094,3099],{"type":76,"tag":2926,"props":3082,"children":3083},{},[3084],{"type":82,"value":2930},{"type":76,"tag":2926,"props":3086,"children":3087},{},[3088],{"type":82,"value":3089},"Djokovic",{"type":76,"tag":2926,"props":3091,"children":3092},{},[3093],{"type":82,"value":2940},{"type":76,"tag":2926,"props":3095,"children":3096},{},[3097],{"type":82,"value":3098},"$494.07",{"type":76,"tag":2926,"props":3100,"children":3101},{},[3102],{"type":82,"value":3103},"$1,037.35",{"type":76,"tag":48,"props":3105,"children":3106},{},[3107,3111,3116,3120,3125],{"type":76,"tag":2926,"props":3108,"children":3109},{},[3110],{"type":82,"value":2953},{"type":76,"tag":2926,"props":3112,"children":3113},{},[3114],{"type":82,"value":3115},"Alcaraz",{"type":76,"tag":2926,"props":3117,"children":3118},{},[3119],{"type":82,"value":2963},{"type":76,"tag":2926,"props":3121,"children":3122},{},[3123],{"type":82,"value":3124},"$505.93",{"type":76,"tag":2926,"props":3126,"children":3127},{},[3128],{"type":82,"value":3129},"$1,037.16",{"type":76,"tag":48,"props":3131,"children":3132},{},[3133,3140,3143,3146,3154],{"type":76,"tag":2926,"props":3134,"children":3135},{},[3136],{"type":76,"tag":89,"props":3137,"children":3138},{},[3139],{"type":82,"value":2979},{"type":76,"tag":2926,"props":3141,"children":3142},{},[],{"type":76,"tag":2926,"props":3144,"children":3145},{},[],{"type":76,"tag":2926,"props":3147,"children":3148},{},[3149],{"type":76,"tag":89,"props":3150,"children":3151},{},[3152],{"type":82,"value":3153},"$1,000.00",{"type":76,"tag":2926,"props":3155,"children":3156},{},[3157],{"type":76,"tag":89,"props":3158,"children":3159},{},[3160],{"type":82,"value":3161},"~$1,037",{"type":76,"tag":85,"props":3163,"children":3164},{},[3165],{"type":76,"tag":89,"props":3166,"children":3167},{},[3168],{"type":82,"value":3169},"Guaranteed profit: $37.16 (3.73%) regardless of outcome",{"type":76,"tag":77,"props":3171,"children":3173},{"id":3172},"arbitrage-vs-value-betting-comparison",[3174],{"type":82,"value":3175},"Arbitrage vs Value Betting {#comparison}",{"type":76,"tag":2890,"props":3177,"children":3178},{},[3179,3199],{"type":76,"tag":2894,"props":3180,"children":3181},{},[3182],{"type":76,"tag":48,"props":3183,"children":3184},{},[3185,3190,3194],{"type":76,"tag":2901,"props":3186,"children":3187},{},[3188],{"type":82,"value":3189},"Criterion",{"type":76,"tag":2901,"props":3191,"children":3192},{},[3193],{"type":82,"value":83},{"type":76,"tag":2901,"props":3195,"children":3196},{},[3197],{"type":82,"value":3198},"Value Betting",{"type":76,"tag":2919,"props":3200,"children":3201},{},[3202,3220,3238,3256,3274,3291,3307,3325],{"type":76,"tag":48,"props":3203,"children":3204},{},[3205,3210,3215],{"type":76,"tag":2926,"props":3206,"children":3207},{},[3208],{"type":82,"value":3209},"Risk Level",{"type":76,"tag":2926,"props":3211,"children":3212},{},[3213],{"type":82,"value":3214},"Zero (guaranteed profit)",{"type":76,"tag":2926,"props":3216,"children":3217},{},[3218],{"type":82,"value":3219},"Medium (variance exists)",{"type":76,"tag":48,"props":3221,"children":3222},{},[3223,3228,3233],{"type":76,"tag":2926,"props":3224,"children":3225},{},[3226],{"type":82,"value":3227},"Profit per Bet",{"type":76,"tag":2926,"props":3229,"children":3230},{},[3231],{"type":82,"value":3232},"1-5%",{"type":76,"tag":2926,"props":3234,"children":3235},{},[3236],{"type":82,"value":3237},"5-15%",{"type":76,"tag":48,"props":3239,"children":3240},{},[3241,3246,3251],{"type":76,"tag":2926,"props":3242,"children":3243},{},[3244],{"type":82,"value":3245},"Required Bankroll",{"type":76,"tag":2926,"props":3247,"children":3248},{},[3249],{"type":82,"value":3250},"Large ($5,000+)",{"type":76,"tag":2926,"props":3252,"children":3253},{},[3254],{"type":82,"value":3255},"Medium ($1,000+)",{"type":76,"tag":48,"props":3257,"children":3258},{},[3259,3264,3269],{"type":76,"tag":2926,"props":3260,"children":3261},{},[3262],{"type":82,"value":3263},"Complexity",{"type":76,"tag":2926,"props":3265,"children":3266},{},[3267],{"type":82,"value":3268},"High",{"type":76,"tag":2926,"props":3270,"children":3271},{},[3272],{"type":82,"value":3273},"Medium",{"type":76,"tag":48,"props":3275,"children":3276},{},[3277,3282,3287],{"type":76,"tag":2926,"props":3278,"children":3279},{},[3280],{"type":82,"value":3281},"Account Limitation Risk",{"type":76,"tag":2926,"props":3283,"children":3284},{},[3285],{"type":82,"value":3286},"Very High",{"type":76,"tag":2926,"props":3288,"children":3289},{},[3290],{"type":82,"value":3273},{"type":76,"tag":48,"props":3292,"children":3293},{},[3294,3299,3303],{"type":76,"tag":2926,"props":3295,"children":3296},{},[3297],{"type":82,"value":3298},"Time Investment",{"type":76,"tag":2926,"props":3300,"children":3301},{},[3302],{"type":82,"value":3268},{"type":76,"tag":2926,"props":3304,"children":3305},{},[3306],{"type":82,"value":3273},{"type":76,"tag":48,"props":3308,"children":3309},{},[3310,3315,3320],{"type":76,"tag":2926,"props":3311,"children":3312},{},[3313],{"type":82,"value":3314},"Long-term Sustainability",{"type":76,"tag":2926,"props":3316,"children":3317},{},[3318],{"type":82,"value":3319},"Low",{"type":76,"tag":2926,"props":3321,"children":3322},{},[3323],{"type":82,"value":3324},"Higher",{"type":76,"tag":48,"props":3326,"children":3327},{},[3328,3333,3338],{"type":76,"tag":2926,"props":3329,"children":3330},{},[3331],{"type":82,"value":3332},"Skill Requirement",{"type":76,"tag":2926,"props":3334,"children":3335},{},[3336],{"type":82,"value":3337},"Low (mathematical)",{"type":76,"tag":2926,"props":3339,"children":3340},{},[3341],{"type":82,"value":3342},"High (odds analysis)",{"type":76,"tag":85,"props":3344,"children":3345},{},[3346],{"type":76,"tag":89,"props":3347,"children":3348},{},[3349],{"type":82,"value":3350},"When to Choose Arbitrage:",{"type":76,"tag":103,"props":3352,"children":3353},{},[3354,3359,3364],{"type":76,"tag":107,"props":3355,"children":3356},{},[3357],{"type":82,"value":3358},"You have significant capital across multiple accounts",{"type":76,"tag":107,"props":3360,"children":3361},{},[3362],{"type":82,"value":3363},"You prefer zero-risk guaranteed returns",{"type":76,"tag":107,"props":3365,"children":3366},{},[3367],{"type":82,"value":3368},"You can act quickly on opportunities",{"type":76,"tag":85,"props":3370,"children":3371},{},[3372],{"type":76,"tag":89,"props":3373,"children":3374},{},[3375],{"type":82,"value":3376},"When to Choose Value Betting:",{"type":76,"tag":103,"props":3378,"children":3379},{},[3380,3385,3390],{"type":76,"tag":107,"props":3381,"children":3382},{},[3383],{"type":82,"value":3384},"You have limited starting capital",{"type":76,"tag":107,"props":3386,"children":3387},{},[3388],{"type":82,"value":3389},"You can identify mispriced odds",{"type":76,"tag":107,"props":3391,"children":3392},{},[3393],{"type":82,"value":3394},"You want higher long-term returns despite variance",{"type":76,"tag":77,"props":3396,"children":3398},{"id":3397},"risks-and-limitations-risks",[3399],{"type":82,"value":3400},"Risks and Limitations {#risks}",{"type":76,"tag":606,"props":3402,"children":3404},{"id":3403},"_1-account-limitations-gubbing",[3405],{"type":82,"value":3406},"1. Account Limitations (Gubbing)",{"type":76,"tag":85,"props":3408,"children":3409},{},[3410],{"type":82,"value":3411},"The biggest threat to arbitrage betting is account limitation. Bookmakers actively identify and restrict arbers through:",{"type":76,"tag":103,"props":3413,"children":3414},{},[3415,3420,3425,3430],{"type":76,"tag":107,"props":3416,"children":3417},{},[3418],{"type":82,"value":3419},"Betting pattern analysis",{"type":76,"tag":107,"props":3421,"children":3422},{},[3423],{"type":82,"value":3424},"IP and device tracking",{"type":76,"tag":107,"props":3426,"children":3427},{},[3428],{"type":82,"value":3429},"Correlation with known arbitrage services",{"type":76,"tag":107,"props":3431,"children":3432},{},[3433],{"type":82,"value":3434},"Unusual stake amounts (non-round numbers)",{"type":76,"tag":85,"props":3436,"children":3437},{},[3438],{"type":76,"tag":89,"props":3439,"children":3440},{},[3441],{"type":82,"value":3442},"Typical Timeline:",{"type":76,"tag":103,"props":3444,"children":3445},{},[3446,3451,3456],{"type":76,"tag":107,"props":3447,"children":3448},{},[3449],{"type":82,"value":3450},"Soft bookmakers: 1-4 weeks before limitation",{"type":76,"tag":107,"props":3452,"children":3453},{},[3454],{"type":82,"value":3455},"Medium bookmakers: 1-3 months",{"type":76,"tag":107,"props":3457,"children":3458},{},[3459],{"type":82,"value":3460},"Sharp bookmakers (Pinnacle, Betfair): Rarely limit",{"type":76,"tag":606,"props":3462,"children":3464},{"id":3463},"_2-palpitation-odds-changes",[3465],{"type":82,"value":3466},"2. Palpitation (Odds Changes)",{"type":76,"tag":85,"props":3468,"children":3469},{},[3470],{"type":82,"value":3471},"\"Palping\" occurs when odds change between placing your first and second bet, potentially eliminating or reducing your arbitrage margin. This risk increases with:",{"type":76,"tag":103,"props":3473,"children":3474},{},[3475,3480,3485],{"type":76,"tag":107,"props":3476,"children":3477},{},[3478],{"type":82,"value":3479},"Slow bet placement",{"type":76,"tag":107,"props":3481,"children":3482},{},[3483],{"type":82,"value":3484},"Pre-match to live transition",{"type":76,"tag":107,"props":3486,"children":3487},{},[3488],{"type":82,"value":3489},"Breaking news (injuries, team news)",{"type":76,"tag":606,"props":3491,"children":3493},{"id":3492},"_3-legal-status-by-country",[3494],{"type":82,"value":3495},"3. Legal Status by Country",{"type":76,"tag":2890,"props":3497,"children":3498},{},[3499,3520],{"type":76,"tag":2894,"props":3500,"children":3501},{},[3502],{"type":76,"tag":48,"props":3503,"children":3504},{},[3505,3510,3515],{"type":76,"tag":2901,"props":3506,"children":3507},{},[3508],{"type":82,"value":3509},"Country",{"type":76,"tag":2901,"props":3511,"children":3512},{},[3513],{"type":82,"value":3514},"Status",{"type":76,"tag":2901,"props":3516,"children":3517},{},[3518],{"type":82,"value":3519},"Notes",{"type":76,"tag":2919,"props":3521,"children":3522},{},[3523,3541,3558,3576,3593,3610],{"type":76,"tag":48,"props":3524,"children":3525},{},[3526,3531,3536],{"type":76,"tag":2926,"props":3527,"children":3528},{},[3529],{"type":82,"value":3530},"United Kingdom",{"type":76,"tag":2926,"props":3532,"children":3533},{},[3534],{"type":82,"value":3535},"Legal",{"type":76,"tag":2926,"props":3537,"children":3538},{},[3539],{"type":82,"value":3540},"Fully permitted, no restrictions",{"type":76,"tag":48,"props":3542,"children":3543},{},[3544,3549,3553],{"type":76,"tag":2926,"props":3545,"children":3546},{},[3547],{"type":82,"value":3548},"Germany",{"type":76,"tag":2926,"props":3550,"children":3551},{},[3552],{"type":82,"value":3535},{"type":76,"tag":2926,"props":3554,"children":3555},{},[3556],{"type":82,"value":3557},"5% betting tax applies",{"type":76,"tag":48,"props":3559,"children":3560},{},[3561,3566,3571],{"type":76,"tag":2926,"props":3562,"children":3563},{},[3564],{"type":82,"value":3565},"United States",{"type":76,"tag":2926,"props":3567,"children":3568},{},[3569],{"type":82,"value":3570},"Legal*",{"type":76,"tag":2926,"props":3572,"children":3573},{},[3574],{"type":82,"value":3575},"Only in states with legal sports betting",{"type":76,"tag":48,"props":3577,"children":3578},{},[3579,3584,3588],{"type":76,"tag":2926,"props":3580,"children":3581},{},[3582],{"type":82,"value":3583},"Australia",{"type":76,"tag":2926,"props":3585,"children":3586},{},[3587],{"type":82,"value":3535},{"type":76,"tag":2926,"props":3589,"children":3590},{},[3591],{"type":82,"value":3592},"Some states have restrictions",{"type":76,"tag":48,"props":3594,"children":3595},{},[3596,3601,3605],{"type":76,"tag":2926,"props":3597,"children":3598},{},[3599],{"type":82,"value":3600},"Canada",{"type":76,"tag":2926,"props":3602,"children":3603},{},[3604],{"type":82,"value":3535},{"type":76,"tag":2926,"props":3606,"children":3607},{},[3608],{"type":82,"value":3609},"Regulated provincially",{"type":76,"tag":48,"props":3611,"children":3612},{},[3613,3618,3622],{"type":76,"tag":2926,"props":3614,"children":3615},{},[3616],{"type":82,"value":3617},"Italy",{"type":76,"tag":2926,"props":3619,"children":3620},{},[3621],{"type":82,"value":3535},{"type":76,"tag":2926,"props":3623,"children":3624},{},[3625],{"type":82,"value":3626},"Licensed bookmakers only",{"type":76,"tag":85,"props":3628,"children":3629},{},[3630],{"type":76,"tag":3631,"props":3632,"children":3633},"em",{},[3634],{"type":82,"value":3635},"Always verify current regulations in your jurisdiction",{"type":76,"tag":606,"props":3637,"children":3639},{"id":3638},"_4-capital-requirements",[3640],{"type":82,"value":3641},"4. Capital Requirements",{"type":76,"tag":85,"props":3643,"children":3644},{},[3645],{"type":82,"value":3646},"Arbitrage requires substantial capital because:",{"type":76,"tag":103,"props":3648,"children":3649},{},[3650,3655,3660],{"type":76,"tag":107,"props":3651,"children":3652},{},[3653],{"type":82,"value":3654},"Small profit margins (1-5%) need large stakes",{"type":76,"tag":107,"props":3656,"children":3657},{},[3658],{"type":82,"value":3659},"Money is locked across multiple bookmaker accounts",{"type":76,"tag":107,"props":3661,"children":3662},{},[3663],{"type":82,"value":3664},"Withdrawal times vary (1-5 business days)",{"type":76,"tag":77,"props":3666,"children":3668},{"id":3667},"arbitrage-software-and-automation-automation",[3669],{"type":82,"value":3670},"Arbitrage Software and Automation {#automation}",{"type":76,"tag":85,"props":3672,"children":3673},{},[3674],{"type":82,"value":3675},"Modern arbitrage bettors use specialized software to find opportunities faster than manual searching allows.",{"type":76,"tag":606,"props":3677,"children":3679},{"id":3678},"popular-arbitrage-scanners",[3680],{"type":82,"value":3681},"Popular Arbitrage Scanners",{"type":76,"tag":85,"props":3683,"children":3684},{},[3685],{"type":76,"tag":89,"props":3686,"children":3687},{},[3688],{"type":82,"value":3689},"Features to look for:",{"type":76,"tag":103,"props":3691,"children":3692},{},[3693,3698,3703,3708],{"type":76,"tag":107,"props":3694,"children":3695},{},[3696],{"type":82,"value":3697},"Real-time odds comparison across 50+ bookmakers",{"type":76,"tag":107,"props":3699,"children":3700},{},[3701],{"type":82,"value":3702},"Alert systems for high-margin opportunities",{"type":76,"tag":107,"props":3704,"children":3705},{},[3706],{"type":82,"value":3707},"Stake calculators integrated with odds feeds",{"type":76,"tag":107,"props":3709,"children":3710},{},[3711],{"type":82,"value":3712},"Historical data on bookmaker limitations",{"type":76,"tag":606,"props":3714,"children":3716},{"id":3715},"api-based-solutions",[3717],{"type":82,"value":3718},"API-Based Solutions",{"type":76,"tag":85,"props":3720,"children":3721},{},[3722],{"type":82,"value":3723},"Advanced arbers use direct API connections to:",{"type":76,"tag":103,"props":3725,"children":3726},{},[3727,3732,3737,3742],{"type":76,"tag":107,"props":3728,"children":3729},{},[3730],{"type":82,"value":3731},"Receive odds updates in milliseconds",{"type":76,"tag":107,"props":3733,"children":3734},{},[3735],{"type":82,"value":3736},"Place bets automatically",{"type":76,"tag":107,"props":3738,"children":3739},{},[3740],{"type":82,"value":3741},"Track all positions in real-time",{"type":76,"tag":107,"props":3743,"children":3744},{},[3745],{"type":82,"value":3746},"Calculate exposure across accounts",{"type":76,"tag":85,"props":3748,"children":3749},{},[3750],{"type":76,"tag":89,"props":3751,"children":3752},{},[3753],{"type":82,"value":3754},"Key Metrics:",{"type":76,"tag":103,"props":3756,"children":3757},{},[3758,3763,3768],{"type":76,"tag":107,"props":3759,"children":3760},{},[3761],{"type":82,"value":3762},"Speed: Opportunities last 30 seconds to 5 minutes",{"type":76,"tag":107,"props":3764,"children":3765},{},[3766],{"type":82,"value":3767},"Coverage: More bookmakers = more opportunities",{"type":76,"tag":107,"props":3769,"children":3770},{},[3771],{"type":82,"value":3772},"Accuracy: False positives waste time and capital",{"type":76,"tag":606,"props":3774,"children":3776},{"id":3775},"bet-execution-speed",[3777],{"type":82,"value":3778},"Bet Execution Speed",{"type":76,"tag":85,"props":3780,"children":3781},{},[3782],{"type":82,"value":3783},"The hierarchy of execution speed:",{"type":76,"tag":3785,"props":3786,"children":3787},"ol",{},[3788,3798,3808],{"type":76,"tag":107,"props":3789,"children":3790},{},[3791,3796],{"type":76,"tag":89,"props":3792,"children":3793},{},[3794],{"type":82,"value":3795},"API betting",{"type":82,"value":3797}," (fastest): 100-500ms",{"type":76,"tag":107,"props":3799,"children":3800},{},[3801,3806],{"type":76,"tag":89,"props":3802,"children":3803},{},[3804],{"type":82,"value":3805},"Browser automation",{"type":82,"value":3807},": 2-5 seconds",{"type":76,"tag":107,"props":3809,"children":3810},{},[3811,3816],{"type":76,"tag":89,"props":3812,"children":3813},{},[3814],{"type":82,"value":3815},"Manual betting",{"type":82,"value":3817},": 10-30 seconds",{"type":76,"tag":85,"props":3819,"children":3820},{},[3821],{"type":82,"value":3822},"Most profitable arbitrage opportunities disappear within 1-2 minutes, making speed critical.",{"type":76,"tag":77,"props":3824,"children":3826},{"id":3825},"related-calculators",[3827],{"type":82,"value":3828},"Related Calculators",{"type":76,"tag":85,"props":3830,"children":3831},{},[3832],{"type":82,"value":3833},"Calculate your arbitrage opportunities with these tools:",{"type":76,"tag":103,"props":3835,"children":3836},{},[3837,3847,3857],{"type":76,"tag":107,"props":3838,"children":3839},{},[3840,3845],{"type":76,"tag":111,"props":3841,"children":3842},{"href":23},[3843],{"type":82,"value":3844},"Arbitrage Calculator",{"type":82,"value":3846}," - Calculate exact stakes and profits",{"type":76,"tag":107,"props":3848,"children":3849},{},[3850,3855],{"type":76,"tag":111,"props":3851,"children":3852},{"href":24},[3853],{"type":82,"value":3854},"Sure Bet Scanner",{"type":82,"value":3856}," - Find live arbitrage opportunities",{"type":76,"tag":107,"props":3858,"children":3859},{},[3860,3865],{"type":76,"tag":111,"props":3861,"children":3862},{"href":25},[3863],{"type":82,"value":3864},"Odds Converter",{"type":82,"value":3866}," - Convert between odds formats"]